Metal stocks come under pressure, FMCG gains as investors book profits

BSE Metal falls 6.9%, NSE Metal 6.4% as benchmarks retreat for 2nd day

Shares of metal companies came under pressure on Friday with the BSE Metal index plunging 6.9 per cent and the Nifty Metal index falling 6.43 per cent and on Friday. The two were the worst performers, while FMCG was the only gainer among sectoral indices as investors looked for safe havens.
 
The decline in metal stocks came as investors booked profits in the segment on concerns over Chinese steel production, faltering global growth, and the prospect of reduced US stimulus. A depreciating rupee, which slumped 15 paise against the US dollar, added to the woes.
 
On the day,