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Shares of metal companies are under pressure with the National Stock Exchange (NSE) CNX Metal index hits its lowest level since May this year.
Hindalco Industries and Sesa Sterlite are down 4% each, while, Hindustan Copper, Jindal Saw, Tata Steel, Jindal Steel and Power and MOIL are down 1-2% on NSE.
At 0939 hours, CNX Metal index, the largest loser among secotral indices, was down 2% at 2,565, its lowest level since May 13, 2014, as compared to 0.87% decline in the benchmark index CNX Nifty.
In past three trading sessions, the metal index was down almost 4% after the latest data showed factory production in China slowed in November 2014.
China is the world's largest consumer of copper, steel, and aluminium.
Tata Steel (Rs 395) and Hindustan Copper (Rs 72.50) touched their respective seven-month lows, while Sesa Sterlite (Rs 201) and National Aluminium Company (Rs 50.70) hit six-month lows on NSE.
Hindalco Industries and Sesa Sterlite are down 4% each, while, Hindustan Copper, Jindal Saw, Tata Steel, Jindal Steel and Power and MOIL are down 1-2% on NSE.
At 0939 hours, CNX Metal index, the largest loser among secotral indices, was down 2% at 2,565, its lowest level since May 13, 2014, as compared to 0.87% decline in the benchmark index CNX Nifty.
In past three trading sessions, the metal index was down almost 4% after the latest data showed factory production in China slowed in November 2014.
China is the world's largest consumer of copper, steel, and aluminium.
Tata Steel (Rs 395) and Hindustan Copper (Rs 72.50) touched their respective seven-month lows, while Sesa Sterlite (Rs 201) and National Aluminium Company (Rs 50.70) hit six-month lows on NSE.
