Shares of metal companies were under pressure with Tata Steel, Jindal Steel and Power (JSPL) and Vedanta slipping more than 5% on the National Stock Exchange (NSE). Steel Authority of India (SAIL), National Aluminium Company (Nalco), Hindustan Zinc, JSW Steel, Hindalco Industries and NMDC were down in the range of 1% to 4%.
At 02:13 pm; Nifty Metal index, the largest loser among sectoral indices, was down 2.7% at 3,497 as compared to 0.53% decline in the Nifty 50 index. In past one month, the metal index underperformed the market by falling 9.5% against 1% decline in the benchmark ...
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