Nifty Metal index dips 3%; Jindal Steel, Tata Steel, SAIL down over 5%

In the past two months, Nifty Metal index has tanked 9 per cent against 1 per cent fall in the Nifty 50 index.

Shares of metal companies, mainly steel, were under pressure on Monday, with Nifty Metal index slipping nearly 3 per cent on the National Stock Exchange (NSE) amid trade tension and weak data from China.

Jindal Steel and Power (JSPL), Steel Authority of India (SAIL), Tata Steel, JSW Steel and Vedanta were down in the range of 3 to 6 per cent on the NSE.

At 02:49 pm, Nifty Metal index, the largest loser among sectoral indices, was down 2.9 per cent, as compared to 1 per cent decline in the benchmark Nifty 50 index. In past two months,