The Nifty Metal index rose by 1.5% on Friday, led by gains in major metal companies. Stocks like Steel Authority of India Ltd (SAIL), NALCO, Vedanta, NMDC, and Tata Steel saw significant increases. Jindal Steel and Hindustan Zinc also rose by 2-3%.
The rise in metal stocks is driven by expectations of China's interest rate cuts, despite ongoing concerns about weaker Chinese domestic demand and rising exports impacting global steel prices. The metal index has surged 3-4% in the last two days.