Metal shares decline as coronavirus fears intensify; JSW Steel falls 5%

Tata Steel and Jindal Steel and Power (JSPL) dipped more than 3 per cent on the . Vedanta, Hindalco Industries, Steel Authority of India (SAIL), Moil and NMDC were down in the range of 2%-3%

Shares of metal companies were under pressure on Monday with the Nifty Metal index falling more than 2 per cent as investors grew increasingly anxious about the economic impact of China's spreading virus outbreak.

At 09:59 am, Nifty Metal index, the top loser among sectoral indices, was down 2.2 per cent at 2,734 points, as compared to 0.5 per cent decline in the benchmark Nifty 50 index.

Among individual stocks, JSW Steel slipped 5 per cent, and Tata Steel and Jindal Steel and Power (JSPL) dipped more than 3 per cent on the National Stock Exchange (NSE). Vedanta, Hindalco Industries,