Nifty Metal Jumps Over 1% as SAIL, Welspun and Steel Stocks Rally

Indian metal and steel stocks moved higher on September 23, with the Nifty Metal index emerging among the strongest sectoral performers. At 11:18 AM, the index was up 1.4% at 13,172.60, outperforming the 0.40% rise in the Nifty 50. Steel Authority of India Limited (SAIL) led the rally, climbing as much as 4.5% to ₹181.83 on the NSE amid strong trading volumes. Welspun Corp, Vedanta and Lloyds Metals & Energy also recorded gains of up to 4%, while Tata Steel, JSW Steel, Jindal Steel, Jindal Stainless and Hindalco Industries advanced between 1% and 2%. Positive sentiment was supported by expectations of resilient domestic steel demand, stronger pricing and improving operating conditions. Analysts noted that pricing discipline will remain important for protecting margins as higher input costs could become more visible during H2FY27. India’s steel demand outlook also remains supportive, backed by infrastructure spending, automotive demand, capital expenditure and railway expansion. The World Steel Association expects Indian steel demand to grow 7.4% in 2026 and 9.2% in 2027.