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Nifty metal is expected to shine

Improvement in demand, the shift of business from China to India and low base due to March 2020 selloff also bode well for metal stocks. Metal stocks have been hogging the limelight for a year as the increasing pace of economic recovery has augmented the demand scenario for the sector. In the last two weeks, the Nifty Metal index has gained 9 %, significantly outpacing the benchmark Nifty which is up about a per cent.
In the financial year 2021 (FY21), the Nifty Metal pack emerged as the top sectoral gainer, surging 151 per cent compared to the Nifty’s 71 per cent jump. After the COVID-19 dealt a severe blow to the economy in the early part of FY21, metal stocks started to rise as investors anticipated economic recovery.
The positive sentiment for the metal pack sustained through FY21 as the Indian government also showed strong intent to keep the infrastructure and manufacturing sector in focus.

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