Metal shares witness selling pressure

Shares of 10 metal and mining companies fell by 1.58% to 4.04% at 14:17 IST on BSE after copper price edged lower in the global commodities markets.

Jindal Steel & Power (down 4.04%), Hindalco Industries (down 3.84%), Vedanta (down 3.7%), Steel Authority of India (down 3.69%), Hindustan Zinc (down 3.29%), National Aluminium Company (down 2.69%), Tata Steel (down 2.08%), JSW Steel (down 1.78%), Hindustan Copper (down 1.77%) and NMDC (down 1.58%), edged lower.

The S&P BSE Metal index was down 3.12% at 12,573.17. It underperformed the Sensex, which was up 0.27% at 36,336.57.

Copper edged lower in the global commodities market. High Grade Copper for September 2018 delivery was currently off 2.75% at $2.7615 per pound on the COMEX.

 

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