NSE Tips

Date : 05.03.2012

Metal shares decline as China cuts growth target 05-Mar-2012

Jindal Steel & Power (down 4.62%), Hindalco Industries (down 3.89%), JSW Steel (down 3.7%), Hindustan Zinc (down 2.73%), Tata Steel (down 2.36%), Sesa Goa (down 2.28%), Sterlite Industries (down 2.23%), Sail (down 2.22%), Nalco (down 0.82%) and Bhushan Steel (down 0.72%), edged lower. 

The BSE Metal index was down 2.29% at 11,695.68. It underperformed the Sensex, which was down 1.30% at 17,407.81. 

The BSE Metal index had outperformed the market over the past one month until 3 March 2012, gaining 0.79% compared with the Sensex's 0.18% rise. The index had also outperformed the market in past one quarter, rising 9.67% as against 4.69% rise in the Sensex.

China is the world's largest consumer of copper and aluminum.