Metal stocks extend fall, Nifty Metal index down by over 2%

Steel stocks Shares of metal companies were under stress quoting lower by over 2% on the Exchanges on profit booking. Nifty Metal traded in the negative terrain during the day which was trading at 3,413.05 level, down by 2.26% at mid-noon hours on Monday.

JSW Steel was the top losing stock in the Nifty Metal index, down by nearly 5% at Rs 235.20 per share. At the same time, APL Apollo Tubes were also down by 4%, trading at Rs 1,689 per share on NSE, while Tata Steel, Jindal Steel and Welspun Corp were down by over 3%. SAIL, NMDC, NALCO and Hindalco were also lower by over 2% on NSE. All the other stocks in the index including Hindustan Zinc, MOIL and Vedanta were also trading in the red, barring Coal India which was trading flat.