Nifty Metal index touches 18-month low as Tata Steel hits 52-week low

Nifty Metal index has fallen 5% in the past three trading sessions, at its lowest level since June 30, 2017.

Shares of metal companies were trading lower for the third day in a row on concerns of deteriorating Chinese demand outlook that weighed on commodity prices.

Nifty Metal index was down 1.6% to 2,979 levels in the intra-day trade, hitting 18-month low on the National Stock Exchange (NSE). Nifty Metal index has fallen 5% in the past three trading days, as compared to a 1.4% decline in the Nifty 50 index. It was trading at its lowest level since June 30, 2017.

Jindal Steel and Power (JSPL), NMDC, APL Apollo Tubes, Tata Steel, Hindalco, JSW Steel, Steel Authority of