Sharemasterindia.com: Metal stocks fell sharply on Thursday with the BSE metals index falling over 2 per cent.
Nalco, NMDC, SAIL and Tata Steel were the major losers from the metal space falling between 2-5 per cent each.
Analysts say weak metal prices in international markets and subdued domestic demand has taken a toll on the metal stocks.
China, which is a major consumer of metals in the world is struggling with shrinking production activity, which is also weighing on the demand for metals and has adversely affected the revenue of metal companies, analysts say.
The BSE metals index has also underperformed the broader Nifty in last one year by falling 31 per cent compared to a 9 per cent gain in the broader Nifty.
As of 1.22 p.m. the BSE metal index was down 2.03 per cent compared to 0.85 per cent fall in the broader Sensex.
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