Are metal stocks bottoming out as China pushes for a stimulus package?

Until major hurdles are not conquered by Metal index, the turnaround scenario may fade sooner

After two straight days of gains, investors booked profit in metal stocks on Friday. At 11:40 AM, the Nifty Metal index was down 0.44 per cent as against a 0.34 per cent gain in the Nifty50 index.

Individual stocks, however, were mixed. Hindustan Zinc, Hindalco, APL Apollo Tubes, and Nalco were ruling up to 2 per cent higher, while Tata Steel, Jindal Steel, SAIL, and JSW Steel declined up to 1 per cent.

Including Friday's intra-day gains, the Nifty Metal index has surged over 5 per cent in three days amid reports that China was weighing $220 billion fiscal