Nifty Metal index hits two-month low; Hindalco, Vedanta down 3%

In past one month, Nifty Metal index underperformed the market by falling 10.5% against 3.6% decline in Nifty 50 index

Shares of metal companies were trading under pressure with the Nifty Metal index hitting its two-month low on the National Stock Exchange (NSE) on weak base metal prices.

Hindalco Industries, Hindustan Zinc and Vedanta dipped 3%, Hindustan Copper, Jindal Steel and Power, Tata Steel and National Aluminium Company (Nalco) down 2% on the NSE.

At 11:39 AM; the Nifty Metal index, the largest loser among the sectoral indices, was down 1.8% at 3,536 points as compared to 0.46% decline in the benchmark Nifty 50 index. The metal index hit an intra-day low of 3,535, its lowest level since