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Informist, Friday, Oct. 24, 2025

NEW DELHI – Analysts have a positive view on stocks of metal companies for the coming week amid larger macroeconomic support factors for the sector. The Nifty Metal index could rise as high as 10750 points, according to Sugandha Sachdeva, founder of SS WealthStreet.

"Major reason is, we've seen some softness coming in dollar index...we're hopeful that India and US are likely to strike a trade deal, so this is another positive. The second positive is that Trump and Chinese President are also scheduled to meet in South Korea next week, so that would also ease the global trade tensions...and we also have expectations of a rate cut by the US Fed at this month's meeting," Sachdeva said.

On Friday, the 15-constituent Nifty Metal index closed 1% higher at 10347.45 points, rising for the third consecutive session. Over the week, the index rose 1.5%. Meanwhile, the benchmark Nifty 50 fell 0.3% during the week.

In the coming week, two of the Nifty Metal index constituents will announce their September quarter results. Jindal Steel will detail its earnings on Tuesday, followed by APL Apollo Tubes on Wednesday. Jindal Steel is expected to report good volumes for the September quarter but realisations may be dull, Mohd Sahil Sheikh from IDBI Capital Markets & Securities said.

Earlier this week, data released by the World Steel Association showed that crude steel production in China fell 4.6% year-on-year to 73.5 million tonnes in September. Meanwhile, India produced 13.6 million tonnes of crude steel during the month, up 13.2% on year. Globally, crude steel production declined 1.6% on year in September to 141.8 million tonnes.

Sahil Sheikh said domestic demand for steel is dull amid an extended monsoon this year. He, however, expects recovery in steel prices from December. 

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* Earnings Outlook: Basic industries sector Q2 PAT growth seen speeding up YoY    

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Shakshi Jain

Edited by Ashish Shirke

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