Nifty Metal declines led by Sail, Jindal Steel

Stocks through Mid-Session: The Nifty Metal index continue its declines through mid-market trade on Wednesday as major selling pressure was seen in SAIL, Jindal Steel, NMDC and Hindalco. All Components in the Metal index are seeing selling pressure.

Shares of SAIL down 3.75%, Jindal Steel falls 2.93% NMDC and Hindalco fall more or less 2.5% as major index losers.

Stocks of Vedanta, Tata Steel, Hindustan Zinc, National Aluminium and Hindustan Copper are also were trading lower by 1 to 2% in range.

The Nifty Metal index was trading 1.49% at 2,316-level at 11.20am, while benchmark Nifty stood at 10996.60 down by6 20 points and the Sensex at 37,280-mark, down by 47 points.

Out of 50-stocks in the Nifty index, 35 stocks were trading in the red, while 15 stocks see in the green.

Meanwhile, over 170 stocks touched their one-year intraday low level at the NSE, which include the metal major SAIL as well as Tata Motors, ITC, UCO Bank and Union Bank of India, NMDC and Oil India.

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