BSE Metal Index Turns Bearish; Slips By 1.35 Per Cent; Jindal Steel Top Loser!

Hindustan Zinc was the only stock of the Metal index that closed in the green, gaining a paltry 0.03 per cent.

The BSE Metal index turned bearish and underperformed the broader indices after recording losses of 255.56 points or 1.35 per cent, when Sensex fell by 185.93 points or 0.35 per cent to close at 52,549.66. Hindustan Zinc was the only stock of the Metal index that closed in the green, gaining a paltry 0.03 per cent.

Jindal Steel, Hindalco and SAIL were at the bottom of the barrel losing more than 2 per cent each, followed by Coal India, Apl Apollo Tubes and JSW Steel which were down by 1.8 percent, 1.65 per cent and 1.27 per cent respectively.

Tata Steel, Vedanta and NMDC also gave lacklustre performances ending in the negative territory.

Nifty in the mean time has turned weak with choppy session.  The bulls may take comfort from the fact that there was a lack of selling interest at new highs which suggests markets may be close to its support levels.