Vedanta, Hindalco, JSW Steel Lead Up To 10% Rally As Nifty Metal Soars On Trump’s Tariff Pause

The Nifty Metal index soared on Friday, gaining 4.60% after U.S. President Donald Trump announced a 90-day pause on tariffs.

The move sparked strong buying across metal stocks, with all 15 constituents of the index ending in the green — a rare and powerful rally.

Top Performing Metal Stocks

Leading the gains was Vedanta, which jumped 13.25%, followed by Hindalco, up 7%. Other major players like JSW Steel and Tata Steel also posted impressive gains of 5.28% and 5.14% respectively. Lloyds Metals rose 6.33%, Jindal Stainless (JSL) added 4.49%, and Adani Enterprises climbed 3.82%.

Public sector metal companies joined the rally too. Steel Authority of India (SAIL) rose 3.85%, Hindustan Zinc gained 3.43%, and NMDC advanced by 2.77%.

Hindustan Copper and National Aluminium saw smaller but positive movements of 2.61% and 1.43%, respectively. APL Apollo, Welspun Corp, and Jindal Steel also contributed to the index's rise with steady gains.

Investor optimism was largely driven by the U.S. tariff pause, which eased concerns of potential export disruptions.

India, the world's second-largest primary aluminium producer, exported around 0.2 million metric tons of aluminium to the U.S. in the year ending March 2024.

Also Read: Infosys, HCL Tech, Wipro Surge Up To 2% As IT Stocks Zoom On Trump Tariff Pause - Should You Buy?

These exports were worth Rs 78.3 billion ($894.4 million), according to government data.

While aluminium exporters stood to benefit more directly, steel producers also saw strong momentum. According to a Reuters report, Analysts noted that Indian steel exports to the U.S. are relatively limited, meaning the sector is less vulnerable to trade tensions.

Stock Market Today

As of 1:15 PM, the Indian stock market was witnessing a strong rally. The BSE Sensex surged by 1,540.70 points, or 2.09%, reaching 75,387.85. Similarly, the Nifty 50 also showed impressive gains, rising by 499.30 points or 2.23% to trade at 22,898.45.