US import tariff likely to have limited impact: Analysts

Among individual stocks, NMDC, Jindal Steel, Jindal Stainless (Hisar), National Aluminium (NALCO), JSW Steel and SAIL slipped 4.6 per cent to 6.4 per cent during the day

Metal stocks bore the brunt of US President Donald Trump’s plans of imposing 25 per cent import tariff on steel and 10 per cent on aluminium with the Nifty Metal index slipping 3.3 per cent to 3,831 levels on Monday. By comparison, the Nifty 50 index ended one per cent lower at 10,359 levels. 

Among individual stocks, NMDC, Jindal Steel, Jindal Stainless (Hisar), National Aluminium (NALCO), MOIL, JSW Steel and SAIL slipped 3.5 per cent to 6.2 per cent.

Analysts believe that the impact of the proposed move is likely to be limited for Indian players, as the country exports