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Metal stocks drop after broader market selloff in India

Nalco was the biggest laggard, sliding as much as 3.9% to ₹344.65, while the Nifty Metal index fell 1.3% to 12,918.7.

Reported · Written up by our desk · Industrial Metals

Indian metal shares fell in Monday trading, with companies including Vedanta, Hindustan Zinc, Hindalco and Nalco moving lower as the stock market came under pressure, according to LiveMint Markets.

The Nifty Metal index plunged more than 1.29% or 168.45 points to 12,918.7. Nalco led the declines, dropping as much as 3.89% to ₹344.65, while Vedanta and Hindalco fell more than 3% intraday.

Hindustan Zinc also declined, tumbling more than 2% on NSE and touching an intraday low of ₹575.

Elsewhere, Indian equity benchmarks opened lower on Monday, with the Nifty 50 down 215 points or 0.93% to 22,925.50 and the BSE Sensex down 665.36 points or 0.90% to 73,230.38, as rising crude oil prices, weakness in the rupee, and elevated global bond yields weighed on sentiment.

Latest closeWTI crude $92.44 ▼2.3%|Sensex 73,580.54 ▼1.7%

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