New Delhi, Nov. 26 -- The Nifty Metal index surged close to 2% on Wednesday, November 26, extending gains for the second straight session as Dalal Street opened with strong optimism. The rally was fuelled by supportive global cues, with investors increasing bets on a potential U.S. Federal Reserve interest rate cut in December, which lifted metals and cyclicals across global markets.

All major sectoral indices on the NSE opened in the green, indicating broad-based buying across sectors. The Nifty Metal index emerged as one of the top-performing sectoral indices in early trade, second only to the Nifty PSU Bank index.

The benchmark metal index rose as much as 1.85%, touching an intraday high of 10,260.45. It is now barely 5% away from it...