Metal stocks fall — Anil Singhvi says buy the dip now; check stocks on his list

Metal Stocks Today: Metal stocks saw mixed action on Monday as global metal prices witnessed profit-taking, a phase that market expert Anil Singhvi believes could create fresh buying opportunities. Despite near-term pressure from global cues, Singhvi said any decline in metal stocks should be used to accumulate quality names, with Vedanta, Hindustan Zinc, and copper and aluminium stocks remaining his preferred picks.

The Nifty Metal index traded marginally higher, up 0.18 per cent at 10,555.25 by 3:19 pm IST.

Metal stocks mixed; Nifty Metal holds gains

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Shares of JSW Steel slipped 0.94 per cent to Rs 1,114.90 on the NSE by mid-afternoon, tracking weakness in global steel markets. In contrast, Vedanta gained 1.30 per cent to Rs 550.65 continuing rally for the fifth consecutive day, while Tata Steel rose 0.58 per cent to Rs 172.89.

Hindustan Zinc extended its recent strength, climbing 1.29 per cent to Rs 568.90, supported by firm silver prices, while Steel Authority of India (SAIL) traded 0.36 per cent higher at Rs 132.38.

Anil Singhvi’s take on metal stocks

Sharing his view on the sector, Anil Singhvi, Managing Editor at Zee Business, said that metals have seen profit-taking globally, and any further dip in metal stocks should be seen as a buying opportunity. He added that stocks such as Vedanta, Hindustan Zinc, along with copper and aluminium plays, remain the best bets in the current setup.

From a technical perspective, Singhvi highlighted Vedanta futures as a key trade on weakness. According to him, the contract has strong support around Rs 535, while higher levels are placed near Rs 557. “Metals have fallen globally; buy Vedanta on dips,” he said.

Global cues and outlook

Global metal prices eased as investors locked in gains after a recent rally. However, analysts remain constructive on the sector, citing structural demand for industrial metals and expectations that prices could stabilise once the profit-taking phase comes to an end.