Monday, 5 March 2018

Nifty Metal Stocks Crack On Trump's Tariff Move

Posted by suhani varma on Monday, March 05, 2018 with No comments



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The Nifty Metal index was 2.8% lower at 3,851.50 points Shares of steel and metal companies fell today after US President Donald Trump announced that he will impose hefty import duties on steel and aluminium products. The Nifty Metal index was 2.8% lower at 3,851.50 points.
President Trump on Friday announced plans to impose duties of 25% on all steel imports and 10% on aluminum imports. This development has sparked concerns of a global trade war. However, for Indian steel and aluminum producers, the situation is slightly different, as US is not a significant export market for India.

Jindal Steel & Power Ltd is currently trading at Rs236.90, down by Rs12.15 or 4.88% from its previous closing of Rs249.05 on the BSE. The scrip opened at Rs247 and has touched a high and low of Rs247 and Rs235.60, respectively.

Jindal Stainless (Hisar) Ltd is currently trading at Rs184.70, down by Rs9.9 or 5.09% from its previous closing of Rs194.60 on the BSE. The scrip opened at Rs193.60 and has touched a high and low of Rs193.60 and Rs184.05, respectively.

Steel Authority of India Ltd is currently trading at Rs77.10 down by Rs3.85 or 4.76% from its previous closing of Rs80.95 on the BSE. The scrip opened at Rs79.40 and has touched a high and low of Rs79.40 and Rs76.75, respectively.

NMDC Ltd is currently trading at Rs124.10 down by Rs6.6 or 5.05% from its previous closing of Rs130.70 on the BSE. The scrip opened at Rs130 and has touched a high and low of Rs130.95 and Rs123.05, respectively.

Tata Steel Ltd is currently trading at Rs659.90 down by Rs15.4 or 2.28% from its previous closing of Rs675.30 on the BSE. The scrip opened at Rs668.55 and has touched a high and low of Rs669 and Rs658.50 respectively.

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