1. Metal stocks melt as global commodities prices fall

Metal stocks melt as global commodities prices fall

The BSE Metal index fell the most among the sectoral indices of the BSE on Wednesday, as metal stocks declined tracking the correction in commodities prices in the international markets.

By: | Mumbai | Published: December 7, 2017 4:01 AM
Metal, BSE Metal index, commodities , BSE The BSE Metal index fell the most among the sectoral indices of the BSE on Wednesday, as metal stocks declined tracking the correction in commodities prices in the international markets.

The BSE Metal index fell the most among the sectoral indices of the BSE on Wednesday, as metal stocks declined tracking the correction in commodities prices in the international markets. The metal gauge hit its lowest level in over two months and slid 276.87 points, or 2.03%, to close the session at 13,334.28, as investors raised concerns over slowing Chinese demand. Shares of Jindal Steel & Power, an index constituent, declined the most, by 3.9% on the BSE, before settling at Rs 158.65. Stocks of other metal producers, Hindalco, HZL, SAIL, fell at least 3%. While shares of Vedanta declined 2.2% to hit a near four-month low, Hindalco Industries closed at Rs 231.70, its lowest level since September 26. JSW steel lost 2.5% of its value, Nalco declined 2.6%, and extended its losing streak to four days. The LME Metal Index fell 2.8% on Tuesday, its biggest single-day percentage decline in the past one year.

  1. No Comments.

Go to Top