Metal shares under pressure; Tata Steel, JSPL, Vedanta down over 5%

Vedanta slipped 6% to Rs 254, its lowest level since July 4, 2017 on the NSE

Shares of metal companies were under pressure with Tata Steel, Jindal Steel and Power (JSPL) and Vedanta slipping more than 5% on the National Stock Exchange (NSE).

Steel Authority of India (SAIL), National Aluminium Company (Nalco), Hindustan Zinc, JSW Steel, Hindalco Industries and NMDC were down in the range of 1% to 4%.

At 02:13 pm; Nifty Metal index, the largest loser among sectoral indices, was down 2.7% at 3,497 as compared to 0.53% decline in the Nifty 50 index. In past one month, the metal index underperformed the market by falling 9.5% against 1% decline in the