Metal stocks surged over 7% on Wednesday, driven by firm base metal prices and reduced uncertainty over US tariffs. Analysts suggest buying on dips, anticipating up to 25% upside. Companies like Lloyds Metals, National Aluminium, and Vedanta saw significant gains as investors shifted funds from IT to the buoyant metal sector.
Indian IT stocks saw a brief rebound on Wednesday, ending a losing streak. However, analysts caution this relief might be temporary. Most derivative bets remain bearish after the IT index's substantial drop. The sector experienced pressure throughout February, with new AI tools intensifying concerns about future revenue. Short covering fueled the bounce, but underlying weakness persists.
