Stock Market today: Tata Steel, Steel Authority of India Ltd , NMDC, Hindalco Industries Ltd , Vedanta , Hindustan Copper Hindustan Zinc Ltd were prominent gainers amongst the metal stocks that led to a decline in the Nifty Metal Index.
The Nifty Metal Index during the intraday trades on Monday, slipped to lows of 8,797.60, marking a decline of 5.5% over the previous close of 9,314.55. The global slow down concerns leading to heightened demand concerns has been one of the key reasons for the decline in the metal stocks.
The recession concerns in the US have increased leading to a steep decline in the global markets. The Benchmark indices Sensex and the Nifty also corrected more than 3% during the intraday trade on Monday.
Steel Authority of India Ltd (SAIL), Tata Steel, Hindalco Industries, Hindustan Zinc Ltd, Hindustan Copper and Vedanta Industries share prices declined 5-7% on Monday during intraday trades.
JSW Steel Ltd, Jindal Steel and Power Ltd, NMDC share prices also saw steep corrections of more than 4%
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