Metal Stocks Meltdown Amid Heavy Selling Pressure

New Delhi: Shares of metal companies witnessed heavy selling pressure, with conglomerate Vedanta plunging over 8 per cent a day after President Donald Trump’s sweeping reciprocal tariffs barrage reignited the fears of global trade war.

Vedanta’s stock tumbled by 8.45 per cent to Rs 402.40, Tata Steel by 7.78 per cent to Rs 141.70, National Aluminium Company by 7.38 per cent to Rs 159.90, Hindalco Industries by 7.16 per cent to Rs 606, and NMDC by 7.05 per cent to Rs 65.53 apiece on the BSE. Among others, the scrip of Jindal Stainless declined by 7.02 per cent to Rs 553.05, Hindustan Zinc by 7.01 per cent to Rs 427.20 per piece, Steel Authority of India by 5.32 per cent to Rs 112.15, Jindal Steel & Power by 5.59 per cent to Rs 854.35, and JSW Steel by 3.59 per cent to Rs 1,005.50 on the exchange.

The drop in metal stocks is attributed to the higher-than-expected reciprocal tariffs by the Trump administration, which have fuelled recession fears and raised concerns that the steep increase in US tariffs will hurt global economic growth.