Nifty Metal index hits over 8-month low; Vedanta, NMDC slip nearly 4%

Vedanta, Jindal Steel & Power, Hindalco Industries, SAIL, NMDC and Hindustan Copper were down 2% to 4% on the NSE.

Shares of metal companies were under pressure with the Nifty Metal index hitting an over eight month low on the National Stock Exchange (NSE).

Vedanta, Jindal Steel & Power, Hindalco Industries, Steel Authority of India (SAIL), NMDC and Hindustan Copper were trading 2% to 4% lower on the NSE.

At 02:37 pm; Nifty Metal index was down 1.7% at 3,422, as compared to 0.69% decline in the Nifty 50 index. The metal index hit an intra-day low of 3,401, its lowest level since September 25, 2017. It fallen 20% from its 52-week high of 4,256, touched on January