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Metal shares under pressure; Nifty Metal index down 2%

At 01:13 PM; the Nifty Metal index, the largest loser among the sectoral indices, was down 2.2% as compared to 0.36% decline in Nifty 50 index.

SI Reporter  |  Mumbai 

metal firms

Shares of metal companies are under pressure with the index falling more than 2% tracking lower global commodity prices.

(Nalco) and fell 5% each, while (JSPL), Hindalco Industries, and were down 3% to 4% on the National Stock Exchange (NSE).

At 01:13 PM; the index, the largest loser among the sectoral indices, was down 2.2% as compared to 0.36% decline in the benchmark Nifty 50 index.

LMEX, a gauge of six metals traded on the London Metal Exchange (LME) was down 2% on Tuesday, falling 3.3% in past one week.

China's economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution, the Reuters report suggested.

Industrial output rose 6.2% year-on-year in October, the National Bureau of Statistics (NBS) said, missing analysts' estimates of a 6.3% gain and lagging a 6.6% increase in September, added report. CLCIK HERE TO READ FULL REPORT

China is the world's largest consumer of steel, copper and aluminum.

COMPANY LATEST PREV CLOSE LOSS(%)
NATL. ALUMINIUM 80.70 85.10 -5.2
HIND.COPPER 92.25 97.05 -5.0
JINDAL STEEL 162.80 170.40 -4.5
HINDALCO INDS. 251.60 261.00 -3.6
HIND.ZINC 299.65 309.90 -3.3
VEDANTA 300.80 308.95 -2.6
S A I L 78.00 79.80 -2.3
JSW STEEL 262.15 266.55 -1.7

First Published: Wed, November 15 2017. 13:24 IST
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