Metal stocks fall; Hindalco top pct loser on NSE index

Metal stocks fall; Hindalco top pct loser on NSE index

Last Updated: Wed, Nov 15, 2017 12:39 hrs
An employee checks aluminium ingots for export at the Qingdao Port

Indian metal stocks Hindalco Industries and National Aluminium Co Ltd drop, tracking lower global commodity prices.

Chinese commodity futures tumbled across the board, with steel and metals posting losses, amid concerns that economic growth was slowing in the world's top consumer of a range of commodities.

Nifty Metal index falls as much as 2.6 pct to its lowest since Oct. 12, marking its biggest intraday percentage drop since Sept. 25.

Jindal Steel and Power Ltd and National Aluminium Co shed over 4 pct each while Hindalco and Hindustan Zinc Ltd slip over 3 pct each.



Hindustan Copper Ltd and Vedanta Ltd also decline over 3 pct each.

The metal index rose as much as 42 pct this year as of Tuesday's close, but looked set to post its first monthly loss in six this month.

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