CapitalMarket.com - Metal shares tumble
Hot Pursuit Monday, February 08, 2010 11:29 Hrs IST

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Metal shares tumble

Twelve metal shares fell 0.14% to 4.63% after LMEX, a gauge of six metals traded on the London Metal Exchange, fell 2.53% to 2,915.50 on Friday, 5 February 2010.

At 11:33 IST, the BSE Metal index was down 2.32% at 15,246.44. It underperformed the Sensex, which was down 1.35% at 15,700.48.

Hindalco Industries (down 4.63%), Tata Steel (down 4.39%), JSW Steel (down 1.90%), Steel Authority of India (down 1.89%), National Aluminium Company (down 1.85%), Sterlite Industries (down 1.76%), Jindal Steel & Power (down 1.71%), Ispat Industries (down 1.57%), Jindal Saw (down 1.41%), Hindustan Zinc (down 0.75%), Sesa Goa (down 0.17%), and Bhushan Steel (down 0.14%), declined.

Three-month copper on the London Metal Exchange fell $125 to close at $6,265 a tonne on Friday, but pared losses in after-hours dealing to $6,285. LME copper fell to $6,225, its lowest in more than three months. Copper, used largely in power and construction, is considered a gauge of the economic activity.

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