Metal stocks tumble as West Asia flare-up and oil prices surge

On September 11, the Nifty Metal index recorded a 3.14% intraday decline, reflecting a market-wide sell-off driven by oil prices breaching the $100 per barrel mark for the first time since mid-May. Research heads Vinit Bolinjkar and Vipin Kumar said the escalation of attacks in West Asia threatens metal supply chains and keeps freight costs high, weighing on the sector. The biggest fall was seen in National Aluminium Company, down 5% to ₹352, with Vedanta, Hindustan Copper, Vedanta Aluminium, Tata Steel and JSW Steel each slipping between 3% and 4%.

The broader BSE Sensex and Nifty 50 also opened lower, losing roughly 1%. Analysts suggest accumulating quality metal stocks when the index tests the 12,400-12,800 support band, while a decisive break above 13,600 could trigger a new rally.