3 hrs ago
Metal Stocks Fall as Crude, Rupee and Bond Yields Weigh
Several major metal-company shares fell on Monday.
These included Vedanta, Hindustan Zinc, Hindalco and Nalco.
Nalco fell the most, by nearly 4%.
The Nifty Metal index also dropped more than 1%.
The wider Indian stock market opened lower too.
Investors were concerned about rising crude oil prices.
A weaker rupee and high global bond yields also reduced confidence.
As a result, many investors sold shares, pushing prices down.
Vedanta, Hindustan Zinc, Hindalco and Nalco fell as much as 4% during Monday’s trading session.
Nalco was the biggest laggard, declining 3.89% to an intraday low of ₹344.65 per share.
Vedanta and Hindalco shares each fell more than 3% intraday.
Hindustan Zinc dropped more than 2% on the NSE, reaching ₹575.
The Nifty Metal index fell 1.29%, while broader markets weakened amid rising crude prices, a weaker rupee and elevated global bond yields.
- Who
- Shares of Vedanta, Hindustan Zinc, Hindalco and National Aluminium Company, along with broader Indian market indices.
- What
- Metal stocks and major Indian equity indices declined during Monday’s trading session.
- Where
- Indian stock exchanges, including the NSE and BSE.
- When
- Monday’s trading session; the article does not provide a calendar date.
- Why
- Investor sentiment was affected by rising crude oil prices, weakness in the rupee and elevated global bond yields.
Key facts
- Biggest decliner
- National Aluminium Company, commonly called Nalco, fell 3.89%.
- Nalco intraday low
- ₹344.65 per share.
- Hindustan Zinc low
- ₹575 on the NSE.
- Nifty Metal decline
- 1.29%, or 168.45 points, to 12,918.7.
- Nifty 50 level
- 22,925.50, down 215 points, or 0.93%, at the time of reporting.
- BSE Sensex level
- 73,230.38, down 665.36 points, or 0.90%, at the time of reporting.
- Reported market pressures
- Rising crude oil prices, a weaker rupee and elevated global bond yields.
Sources
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