Metal stocks dived 2.5% on NSE dragged down by weakness in
Hindustan Zinc, Jindal Steel and Power, Vedanta etc.
Leading the losers pack were Hindustan Zinc (-3.42%),
Vedanta Ltd. (-3.39%), Welcorp (-3.19), Hindalco (-3.01%), and Jindal Steel
(-3.01%).
Only Jindal Stainless Steel (Hisar) (+0.14%) and APL Apollo
(+0.60) traded in the green.
Further, Vedanta registered a 52-week low at Rs229. The
Goa-based metal manufacturer’s shares declined after its parent company halted
operations in a Zambia mine.
Jindal Steel and Power was recently in the news for setting
up four key steel manufacturing facilities in Odisha. Union Minister of Steel
Chaudhary Birender Singh and Petroleum Minister Dharmendra Pradhan inaugurated
the facilities on Thursday.
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