Shares of four metal and mining firms fell by 0.36% to 3.33% at 14:25 IST on BSE after disappointing trade data from China for September 2015.
Vedanta (down 2.3%), Tata Steel (down 2.45%), Hindalco Industries (down 3.33%) and Steel Authority of India (down 0.36%) edged lower. Hindustan Zinc (up 2.67%), JSW Steel (up 0.82%), National Aluminium Company (up 0.38%), Jindal Steel & Power (up 2.07%), Hindustan Copper (up 0.41%) and NMDC (up 0.61%) rose.
The S&P BSE Metal index was off 0.22% at 7,525.07. The index outperformed the S&P BSE Sensex which was off 0.5% at 26,769.12.
The S&P BSE Metal index had underperformed the market over the past one month till 12 October 2015, rising 4.78% compared with 5.05% rise in the Sensex. The index had also underperformed the market in past one quarter, falling 14.99% as against Sensex's 2.74% decline.
Meanwhile, High Grade Copper for December 2015 delivery was currently off 0.52% at $2.4030 per pound on the COMEX.
China's September exports continued to struggle against weak global demand. Exports fell 3.7% in September 2015 from a year earlier in US dollar terms following a 5.5% drop in August 2015. Imports fell 20.4% in September 2015 compared with a 13.8% decrease in August 2015. China is the world's largest consumer of steel, copper and aluminum.
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