Metal shares melt in market carnage

The Nifty Metal index slumped 11.83% to 1,587.65, extending losses for seventh day.

The Nifty Metal index has slumped 31.58% in seven days. It is down 50.03% from its 52-week high of 3177.40 hit on 16 April 2019.

Among the index constituents, Hindustan Copper (down 13.5%), Hindustan Zinc (down 13.14%), Vedanta (down 12.15%), Hindalco Industries (down 12%), Tata Steel (down 10.7%), Jindal Steel & Power (down 10%), NMDC (down 9.98%), Steel Authority of India (down 9.9%), JSW Steel (down 9.04%) and National Aluminium Company (down 8.86%) declined.

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