Tag: niftymetal

Shares of metal companies came under heavy selling pressure on Monday with the Nifty Metal index slipping 4.5 percent on the National Stock Exchange (NSE) in the intra-day trade. The Nifty Metal index has tumbled by nearly 250 points so far today with an intraday low of 5,683.85. The performance comes after the country's copper imports recorded double-digit growth for the June 2021 quarter by a whopping 26% to 60,766 tonnes in the quarter ending June 2021 (Q1FY22) compared to 48,105 tonnes imports witnessed in the same quarter a year ago. A decline in copper price on the back of a stronger dollar further added to the sell-side in stocks globally. Tata Steel was the top drag performance in the index tumbling by 10% as some analysts give a sell target on the company's stock. Read more

At close, the Sensex was down 524.96 points or 0.89% at 58,490.93, and the Nifty was down 188.30 points or 1.07% at 17,396.90 for the second day spooked by a possible spillover of China's Evergrande's debt woes, fall in commodity prices and ahead of US Federal Reserve policy meet outcome. About 995 shares have advanced, 2308 shares declined, and 132 shares are unchanged. Hindustan Unilever was the top Sensex gainer followed by Bajaj Finserv and ITC. Tata Steel was the top loser, followed by the State Bank of India, IndusInd Bank, and HDFC. Barring the Nifty FMCG index all indices ended in red. Nifty Metal tumbled the most followed by the Nifty PSU Bank index, down 6.6 percent and 4.18 percent, respectively. Nifty Realty, Bank, Pharma also tanked nearly 2 percent each. The BSE Midcap index plunged 1.84 percent and the BSE Smallcap 1.8 percent. India VIX zoomed 14.85% during the day to close at 17.49.