NEW YORK, December 29, 2025, 11:08 ET
- NALCO shares hit a new 52-week and all-time high in Monday trade before retreating
- India’s Nifty Metal index touched a fresh 52-week high but reversed as commodity prices fell
- Analysts cited U.S. rate-cut hopes and China demand support as key drivers for metals
Shares of India’s National Aluminium Company Ltd (NALCO) hit a record high on Monday, reaching 314 rupees — their highest level in the past year — before easing, market data showed.
MarketsMojo put the new 52-week and all-time high at 312.9 rupees.
The move underscores investors’ appetite for metal producers into year-end, after a run-up in sector shares tied to expectations of easier U.S. monetary policy and steadier global demand.
That matters now because the rally has left the group more sensitive to sharp swings in commodity prices and macro headlines, setting up bigger moves in earnings-linked shares.
NALCO last traded at 300.8 rupees, down about 2%, after earlier reaching the record, Moneycontrol data showed.
The stock has traded between 137.75 and 314.00 rupees over the past 52 weeks and is up about 41% over the last 12 months, The Economic Times data showed.
India’s Nifty Metal index — a gauge of metal shares on the National Stock Exchange — hit a fresh 52-week high before closing down 0.16% at 10,789.10, Moneycontrol reported.
Analysts have pointed to expectations of U.S. Federal Reserve rate cuts next year as a tailwind for metals. “The easing labor market in the U.S. provides the Fed with the opportunity to lower rates, which bodes well for the metals market,” said Aditya Welekar, senior research analyst for metals at Axis Securities. Moneycontrol
Harshal Dasani, business head at INVasset PMS, said China’s incremental policy support for infrastructure and power grids has improved demand visibility for steel, copper, aluminium and zinc.
Dasani said recent sessions saw names such as Hindustan Copper, Hindalco Industries, Vedanta and SAIL push to fresh highs as turnover picked up.
NALCO, incorporated in 1981, operates from bauxite mining through alumina refining to aluminium smelting and casting, with major facilities in India’s Odisha state, according to the company.
Moneycontrol data show promoter holdings at 51.28% as of the September quarter and a dividend yield of about 3.49%.
The late-December surge has put the spotlight on whether metal prices can stabilise after Monday’s reversal, as investors weigh demand signals and central-bank policy expectations.
