Metal stocks decline as coronavirus fears deepen; Jindal Steel, Hindalco plunge over 4%
Updated : February 24, 2020 12:08 PM IST
At 11:30 am, the Nifty Metal index was the top loser falling 3.20 percent to 2,528.75 points as against 1.08 percent decline in the benchmark Nifty 50 index.
Among stocks, Hindalco Industries slipped 4.50 percent, JSW Steel plunged 4.03 percent, Tata Steel fell 3.27 percent, Vedanta declined 3.76 percent, while Jindal Steel and Power (JSPL) dipped more than 5 percent on the NSE.
A fall in demand in China could result in a downward trend in steel prices.