While sectors like financials and information technology (IT) are stealing the spotlight with bullish predictions, metals seem to be the market's underdog. Several fund managers either recommend steering clear of the sector or keeping exposure to a minimum.
Over the past six months, the Nifty Metal has tumbled over 13%, underperforming the broader Nifty 50, which has slipped just 2%. All constituents of the Nifty Metal index, barring National Aluminium Co. Ltd (Nalco) and Welspun Corp. Ltd, fell during the period.
Hindustan Zinc has been hit the hardest, plunging 32%, followed by Steel Authority of India Ltd (SAIL) and Hindustan Copper Ltd with declines of 24% and 23%, respectively.
Many fund managers believe investors should hold off for now and take another look at the sector once there is more clarity on China's recovery and the US trade policy under the new administration.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Portfolio chaos: A teacher's quest from clutter to clarity
How Singh turned around his finances to secure his future with low-cost professional advice
Maruti Suzuki to up prices of models
Maruti Suzuki India Ltd (MSIL) on Thursday said it will hike prices by up to ₹32,500 across various models to partially offset the rise in input costs.
Etonhurst to raise ₹500 cr real estate fund
Etonhurst Capital Partners is set to raise its first real estate fund, targeting residential redevelopment projects in Mumbai, according to a senior executive.
American employees have lost their labour market leverage
Their pandemic gains are over as the power balance tilts away
There's a Need to Reimagine MGNREGA for a Modern Economy
The two decades since the passage of the act have seen tremendous changes
CCI ban on WhatsApp data-sharing on hold
No relief on ₹213 crore fine; experts say order undermines CCI's authority
India will clock fastest growth rate: Andhra CM Naidu at Davos
Andhra Pradesh chief minister N. Chandrababu Naidu has said that India's golden era has started and the country will clock the fastest growth rate.
Companies Go For Corporate NPS As Traditional Plans Fade
Provident fund and gratuity seen as inadequate, while superannuation funds aren't portable
HUL needs a magic wand for recovery after subdued Q3
Not fast-moving
JSW Defence, Telangana ink MoU
JSW Defence has signed an agreement with the Telangana government to set up a facility in the state for manufacturing unmanned aerial systems.
