Metal shares under pressure; Nifty Metal index down over 2%

Shares of metal companies were under pressure with Nifty Metal index falling more than 2% after the proposal to impose duties on steel and aluminium by the Trump administration.

JSW Steel, Jindal Steel and Power, Steel Authority of India (SAIL), Jindal Stainless (Hisar), NMDC and Hindalco Industries from the Nifty Metal index were down over 3% on the National Stock Exchange (NSE). Tata Steel and National Aluminium from the index were down in the range of 2% to 3%.

At 09:59 am; Nifty Metal index, the largest loser among sectoral indices, was down 2.4% at 3,866, as compared to 0.80%