Metals eye up to 15% gain amid China reopening, likely capex push in Budget

Reopening of China’s economy after years of strict Zero-Covid policies may trigger fresh rallies in metal stocks globally.  The policy shift could boost the demand for various assets classes from commodities, equities to currencies. 

Also, as the economy slowly returns to normalcy, the capex push may revive the hope of the slowing economy. 

Meanwhile, over half of the stocks in Nifty Metal Index are trading with a bullish sentiment ahead of Budget 2023, defying vulnerability over the existing volatility. Shares of Hindustan Zinc, Jindal Steel & Power, Jindal Stainless, and APL Apollo Tubes have recently recorded successive peaks. 

Hindustan Zinc,