The Nifty Metal index slipped over 3% at 1,978.70 lower.
NALCO, NMDC, Coal India and Hindalco which were down over 4-5%, followed by Welspun Corp, MOIL, SAIL, Hindustan Copper and Hindustan Zinc fell over 3% each on the metal index. Jindal Steel, Tata Steel, JSW Steel and Vedanta down in the range of 1-2%, respectively.
Shares of Coal India slumped 5% after the company reported 23% decline in consolidated net profit to Rs4,637.95cr in Q4FY20.
Shares of Tata Steel in focus as the company will announce its March quarterly numbers today.
Overall, 10 shares were trading in green in Nifty50 index, while 40 were trading in red.
AstraZeneca Pharma, Alok Industries, Andhra Cements, GTN Industries, Bafna Pharma, Birla Tyres, IDBI Bank, Indian Overseas Bank, Omaxe, Shree Digvijay Cement and Ruchi Infrastructure stocks that touched their 52-week high on the NSE in today’s trade.