Supported by higher commodity prices, the Nifty Metal index has outperformed the benchmark Nifty 50 by 17% since early 2022. The metal index trades at a price-earnings (P/E) multiple. is 6.9 compared to P/ of Nifty 50 E of 22.
ET Intelligence Group: Foreign portfolio investors (FPI) continue to be bullish on domestic metals and mining stocks amid favorable commodity cycles even as they have been net sellers on Indian stock market. According to NSDL data, they have deployed $1.4 billion (Rs 10,260) in the sector so far in 2022 while raking in a record $14 billion (Rs 1.1 lakh) from Indian stocks. Degree. FPI continues to be a net buyer in this sector
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