Metal Shares Melts, Nifty metal index fall 1.35pc

Key benchmarks were continuing their downtrend through afternoon trade. At 2.30pm, the BSE Sensex was down 122pts at 39,072-level.  The Nifty50 index was down 41.45 points at 11,682.65.

Among sectoral indices, Metal shares were under increasing selling pressure as part of its trading. The Nifty index, which represents the metal shares on the National Stock Exchange, fell by 1.35% at 2,890.70. 

Metal share Index has been under pressure since the starting of the market, when the index fell by 1% to an intraday low level at 2,898. 

Except Coal India and Hindalco, which trade marginally up in the index, all the rest components in the metal index were witnessing selling pressure.

JSW Steel was down 4.40pc, JSW Steel down 3.49%, Tata Steel down 2.98%, SAIL India down 2.70%, were major index losers. Also, Vedanta, JindalStainless, NMDC, Hindustan copper and Hindustan Zinc were falling between 0.90% to 2.14% in range.

Please follow and like us: