Nifty Metal dives over 1%; APL Apollo, Hindustan Zinc, NMDC weigh on the performance

The index has touched an intraday high and low of 4,403.65 and 4,266.85 respectively.

Apr 19, 2021 02:04 IST India Infoline News Service

Nifty Metal recovered some early losses, however, maintained downside during the second half of Monday's trading session. Investors concern has shifted towards the country's economic recovery as major Indian states impose stricter restrictions to tackle the second wave of Coronavirus infections.

The Covid cases in India are nearing to clock a 3 lakh milestone in a single day. In the last 24 hours, India registered 2,73,810 new Covid-19 cases, taking the total tally to more than 1.5cr mark.

Notably, corporate earnings season also sways markets sentiment.

At around 2.51 pm, Nifty Metal was trading at 4,379.05 down by nearly 55 points or 1.2%.

The index has touched an intraday high and low of 4,403.65 and 4,266.85 respectively.

On the index, APL Apollo was the top underperformer tumbling by 5% followed by Hindustan Zinc and NMDC slipping by 3.06% and 3.02% respectively.

Welspun Corp dived by 3%, while Coal India and SAIL plunged by 2.8% each.

NALCO and MOIL weakened by 2.3% each, while Hindalco tumbled 2.2%.

Adani Enterprises and Vedanta plummeted by 1.8% each.

Ratnamani was marginally down.

On the contrary, stocks like JSPL, JSW Steel and Tata Steel were the top performers, however, with marginal upside.

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