{"id":79489,"date":"2018-05-23T15:46:02","date_gmt":"2018-05-23T15:46:02","guid":{"rendered":"http:\/\/www.bnreport.com\/stock-market-update-metal-stocks-melt-tata-steel-vedanta-jindal-steel-power-top-losers\/"},"modified":"2018-05-23T15:46:02","modified_gmt":"2018-05-23T15:46:02","slug":"stock-market-update-metal-stocks-melt-tata-steel-vedanta-jindal-steel-power-top-losers","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/stock-market-update-metal-stocks-melt-tata-steel-vedanta-jindal-steel-power-top-losers\/","title":{"rendered":"Stock market update: Metal stocks melt; Tata Steel, Vedanta, Jindal Steel & Power top losers"},"content":{"rendered":"

NEW DELHI: Metal stocks<\/a> including Tata Steel<\/a> (down 6.57 per cent), Vedanta<\/a> (down 6.23 per cent) and Jindal Steel & Power (down 5.93 per cent) stood among the top losers on Wednesday. <\/p>\n

The BSE Metal index closed the day with a loss of 3.93 per cent, emerging as the top loser among sectoral indices. <\/p>\n

Shares of Tata Steel plunged a day after it said it would raise Rs 16,500 crore through debt instruments to fund Rs 32,500 crore acquisition of Bhushan Steel<\/a>. <\/p>\n

Shares of Vedanta plunged after at least nine people were killed in the southern state of Tamil Nadu when police fired at violent protesters calling for the closure of a copper smelter run by parent Vedanta Resources Plc, Reuters reported. <\/p>\n

SAIL (down 5.32 per cent), Nalco (down 3.68 per cent), JSW Steel (down 2.49 per cent), Hindalco Industries<\/a> (down 2.17 per cent), Hindustan Zinc (down 1.66 per cent), Coal India (down 0.95 per cent) and NMDC (down 0.22 per cent) also remained among the losers. <\/p>\n

Key equity indices finished Wednesday's session with heavy losses. <\/p>\n

The Sensex index finished the day 306 points, or 0.88 per cent, down at 34,345, with 26 stocks incurring losses and only 5 with gains. <\/p>\n

The Nifty index tanked 106 points, or 1.01 per cent, to settle at 10,430, with 14 stocks in the green, 35 in the red and one unchanged. <\/p>\n

Shares of State Bank of India, Tech Mahindra, Cipla, UPL, Larsen & Toubro and NTPC emerged as the top Nifty gainers of Wednesday's session. <\/p>\n

On the other hand, HPCL, Vedanta, Tata Steel, BPCL, ONGC and Indian Oil Corporation remained the top losers in the Nifty index. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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