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 January 02, 2025 edition of Mint Chennai.
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This story is from the January 02, 2025 edition of Mint Chennai.
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