Seven metal and mining stocks lost 0.41% to 2.04% at 12:35 IST on BSE after latest data showed that profits earned by Chinese industrial companies fell 0.1% in September 2015 over September 2014.
Steel Authority of India (down 2.04%), Tata Steel (down 1.8%), Vedanta (down 2.01%), National Aluminium Company (down 1%), Hindalco Industries (down 1.35%), Jindal Steel & Power (down 0.6%), and JSW Steel (down 0.41%) edged lower. Hindustan Zinc (up 1.11%) and NMDC (up 1.07%) edged higher. China is the world's largest consumer of steel, copper and aluminum.
Meanwhile, the S&P BSE Metal index was down 68.21 points or 0.91% at 7,410.96, underperforming the Sensex which was down 113.32 points or 0.41% at 27,248.64.
The S&P BSE Metal index had outperformed the market over the past one month till 26 October 2015, surging 8.59% compared with the Sensex's 5.79% rise. The index had, however, underperformed the market in past one quarter, sliding 14.74% as against Sensex's 2.67% fall.
China is the world's largest consumer of steel, copper and aluminum.
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