Nifty Metal index hits over 3-year low as US-China trade war escalates

Tata Steel, Vedanta and JSW Steel were down more than 5 per cent each on the NSE.

Shares of metal companies were under pressure on Monday with Nifty Metal index hitting an over 3-year low in the intra-day trade amid US-China trade war concerns.

At 10:07 am, the Nifty Metal index, the biggest loser among sectoral indices, was down 4 per cent at 2,185 level, as compared to a 0.53 per cent decline in the benchmark Nifty50 index. The index hit an intra-day low of 2,180, its lowest level since June 29, 2016 on the National Stock Exchange (NSE).

Among individual stocks, Tata Steel, Vedanta and JSW Steel slipped more than 5 per cent each, and were