Nifty Auto and Nifty Metal have shown strong performance in 2024 YTD, outperforming the benchmark. Experts favor auto over metals for long-term investment due to growth potential, innovation, and less impact from global factors.
The index has been rising, making new highs since the second half of 2023. It made new all-time highs in 5 consecutive trading sessions. A significant surge in demand from China is believed to drive the rally in the metal space.