Quick Wrap: Nifty Metal Index registers a drop of 2.37%

Nifty Metal index closed down 2.37% at 2712.95 today. The index has lost 6.00% over last one month. Among the constituents, Jindal Steel & Power Ltd dropped 7.71%, Steel Authority of India Ltd slipped 5.32% and Welspun Corp Ltd fell 3.21%. The Nifty Metal index has decreased 16.00% over last one year compared to the 1.23% spike in benchmark Nifty 50 index. In other indices, Nifty Auto index has slid 1.95% and Nifty Pharma index is down 1.77% on the day. In broad markets, the Nifty 50 is down 0.53% to close at 11271.3 while the SENSEX has slid 0.36% to close at 37847.65 today.

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