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Metal stocks plunge; JSPL, Tata Steel worst hit

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Press Trust of India New Delhi
Last Updated : Jul 18 2018 | 7:05 PM IST

Metal stocks faced heavy selling pressure today, tumbling up to 6 per cent following weakness in global commodities prices.

Shares of Jindal Steel & Power Ltd tanked 6.33 per cent, Tata Steel 5.22 per cent, Hindalco Industries 3.51 per cent, JSW Steel 3.48 per cent, Vedanta 3.02 per cent and National Aluminium Company 2.49 per cent on the BSE.

Tata Steel and Vedanta were the worst hit among the Sensex blue chips.

Among others, Steel Authority of India Ltd dropped 2.47 per cent, NMDC 2.21 per cent, Coal India Ltd 0.26 per cent and Hindustan Zinc 0.02 per cent.

Led by losses in these stocks, the BSE metal index declined 3.12 per cent to close at 11,857.27.

LMEX, a gauge of six metals traded on the London Metal Exchange (LME), was trading close to its one-year low on China growth concerns.

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First Published: Jul 18 2018 | 7:05 PM IST

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