Free Stock Tips - Native metal stocks fell down over 5 % in trade, On Monday tracking a sharp decrement in Chinese equities amid more cues suggesting the world's second largest economy and the biggest consumer of base metals is governed for a slowdown.
The BSE metal index dropped 2.3 % and was the worst sectoral performer on the BSE. All the 10 index segment were trading in the red. Tata SteelBSE -4.96 % led the losers. The scrip plunged 5.36 % to strike an intraday low of Rs 250.90.
SAIL, Hindalco, Vedanta and JSW SteelBSE -2.84 % decreased between 2.5 % and 4 %. Jindal SteelBSE -2.57 %, Nalco and Hindustan Zinc fell between 1 % and 3 %.
In the meantime, profit at China's industrial firms dropped 0.3 % in June from a year earlier, reversing a 0.6 % rise in May. Profits for Chinese mining sector firms fell down 58.8 %. The BSE metal index has gone 35 % of its market capitalisation in the past one year. Click HereFree Stock Tips
The BSE metal index dropped 2.3 % and was the worst sectoral performer on the BSE. All the 10 index segment were trading in the red. Tata SteelBSE -4.96 % led the losers. The scrip plunged 5.36 % to strike an intraday low of Rs 250.90.
SAIL, Hindalco, Vedanta and JSW SteelBSE -2.84 % decreased between 2.5 % and 4 %. Jindal SteelBSE -2.57 %, Nalco and Hindustan Zinc fell between 1 % and 3 %.
In the meantime, profit at China's industrial firms dropped 0.3 % in June from a year earlier, reversing a 0.6 % rise in May. Profits for Chinese mining sector firms fell down 58.8 %. The BSE metal index has gone 35 % of its market capitalisation in the past one year. Click HereFree Stock Tips
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