Quick Wrap: Nifty Metal Index registers a drop of 2.98%, NIFTY Crashes 1.51%

Nifty Metal index closed down 2.98% at 5708.1 today. The index has added 12.00% over last one month. Among the constituents, Jindal Steel & Power Ltd fell 5.15%, Tata Steel Ltd shed 4.54% and Steel Authority of India Ltd dropped 4.40%. The Nifty Metal index has increased 7.00% over last one year compared to the 6.32% spike in benchmark Nifty 50 index. In other indices, Nifty Realty index has slid 2.51% and Nifty PSU Bank index is down 2.12% on the day. In broad markets, the Nifty 50 has dropped 1.51% to close at 17490.7 while the SENSEX has declined 1.46% to close at 58773.87 today.

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