Metals Outshine D-Street: Anil Singhvi sees big 'buy-on-dips' opportunity in these base metals

Metal Stocks To Watch: Indian equity markets faced renewed selling pressure on Thursday, after a brief recovery in the previous session. Both benchmark indices opened lower, reflecting weakness across several sectors, weighed down by persistent foreign investor outflows.

The Nifty 50 opened at 24,759.55, down 76.75 points or 0.31 per cent, while the BSE Sensex started at 80,684.14, shedding 299.17 points or 0.37 per cent.

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The broader market showed mixed trends, with the Nifty 100 down 0.13 per cent, the Nifty Midcap 100 edging up 0.32 per cent, and the Nifty Small Cap 100 gaining surging at 0.32 per cent.

Among sectors, FMCG, IT, media, and realty stocks were under pressure in the early session. Auto stocks opened flat, while PSU banks and metals emerged as the bright spots.

The Nifty Bank index saw a marginal gain of 0.15 per cent, and Nifty PSU Bank rose 0.41 per cent, while Nifty Metal surged 2.09 per cent. On the BSE, the metal index jumped 2.14 per cent to 34,145.17 points.

Metal Among Top Gainers

Top gainers in the metals space included Tata Steel, up 3.94 per cent, National Aluminium Company at 3.52 per cent, Vedanta 3.07 per cent, Hindalco 2.63 per cent, and Hindustan Zinc 2.40 per cent. Other metals stocks such as JSL, JSW Steel, SAIL, NMDC, and Jindal Steel also saw notable gains.

What Market Guru Anil Singhvi Said On Metal Stocks?

Market expert and Zee Business Managing Editor Anil Singhvi said that investors should look beyond Nifty and Bank Nifty for potential opportunities. He highlighted the metals sector, particularly copper and zinc, which are showing strong momentum.

Copper has reached a 16-month high, while zinc is at a 10-month high. Singhvi pointed out that stocks like Hindustan Copper and Hindustan Zinc could remain strong, presenting good “buy on dips” opportunities for investors.

NBFCs, Banks And OMCs Stocks

Singhvi also noted that select NBFCs and private banks could benefit from ongoing deals and increased foreign investor interest.

Additionally, auto and retail stocks such as Maruti, TVS, and V-Mart are performing well, while declining crude oil prices are supporting OMCs like HPCL and BPCL.

Overall, Singhvi recommends keeping an eye on metals, select NBFCs, private banks, and consumption-oriented stocks, as these could provide potential gains even as broader markets face pressure.