Metal Stocks Crash : Today, the Indian stock market is witnessing a steep decline. The Sensex slipped 2,854 points to 72,509. The Nifty fell 926 points to trade at 21,977. All sectors are seeing a sell-off today. Smallcaps and midcaps have rolled by 5-6%. Metal, IT, Media sectors are selling the most. Nifty Metal is the fastest sell-off.
This is the biggest drop in Metal Stocks
Nifty metal slipped 7.40%. Adani Enterprises shares have slipped by 6.57%. Jindal Steel shares have slumped by 6%. Shares of JSW Steel and Hindalco Industries fell more than 7%. NMDC shares are seeing a decline of up to 8%. Hindustan Copper shares have slipped more than 9%. Lloyds metals and Energy Ltd is seeing a decline of up to 10% today. Tata Steel shares are also down 10% today.
Nifty Metal index Crash
US President Donald Trump has imposed a reciprocal tariff of 34% on China and China has also imposed an additional tariff of 34% on the US, which has led to a decline in markets around the world since the start of the trade war. Tariff tensions have started since the US imposed a 26% tariff on imports from India.
Besides China, the US has also imposed a 25% tariff on steel and aluminium coming from Japan and South Korea. Ever since the introduction of tariffs, there has been a fear of a slowdown in the global market, which could lead to a big drop in demand for industrial goods, especially metals. If this tariff dispute lasts longer or it will also have an impact on the global economy. For all these reasons, today, the metal sector of the Indian stock market is witnessing the highest sell-off.
Also Read :- Stock market Crash by tariff war! Sensex-Nifty plunges Rs 21 lakh crore in few minutes
