Shares of National Aluminium Company Ltd (NALCO) dropped by 3.67% to ₹207.00, continuing the downward trend seen in metal stocks following underwhelming stimulus announcements from China. The company’s stock followed the overall decline in the Nifty Metal index, where 14 out of 15 stocks traded with losses.
The metal sector has been highly sensitive to China’s economic outlook, as China is a major consumer of metals globally. The Chinese National Development and Reform Commission recently discussed policies aimed at boosting economic growth, but the measures announced fell short of investor expectations. While the market was anticipating stronger actions to stimulate demand, the restrained stimulus package dampened sentiment across global metal markets, including for NALCO.
Brokerage firm Morgan Stanley highlighted that while China’s policies may stabilize its property market, reviving demand and increasing prices in the metal industry remains a challenge. This has directly impacted metal producers like NALCO, cont
