NALCO, Hindalco, and Tata Steel plunge: Why Hormuz crisis just wiped 4% off metal stocks
Metal stocks took a hit in today's cautious market, with Nifty Metals Index dropping over 4% and key shares like NALCO and Hindalco plunging. The Hormuz crisis and rising crude oil prices have disrupted markets, but surprisingly, metal prices have seen a sharp correction. Indian markets also opened lower, with the auto index dropping around 3%.