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Metals rally while IT and FMCG see early weakness
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Metals gained 1% led by Hindalco and Tata Steel while IT and FMCG declined 1% amid cautious, rotation-led early trade.
The BSE Metal index gained 1% on October 24, supported by Hindalco, Tata Steel, and JSW Steel, while IT and FMCG stocks declined around 1%. Broader indices remained steady with the Smallcap and Midcap segments trading flat. Shriram Finance, ICICI Bank, and ONGC gained over 2% each amid rotational buying. Analysts cited sector rotation as investors shifted from defensives to cyclical plays. Market breadth stayed neutral, reflecting cautious participation ahead of key macro and earnings announcements.