Metal Stocks Slump as China’s Stimulus Pledge Lacks Details; JSW Steel, Tata Steel, NMDC, SAIL Drop 3-5%

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Metal stocks in India experienced significant declines today as investors reacted to China's recent pledge for economic stimulus, which failed to provide clear details on its implementation. Major players in the sector, including JSW Steel, Tata Steel, NMDC, and SAIL, saw their stock prices fall between 3% and 5%.




The downturn in metal stocks comes after the Chinese government signaled plans to boost its economy, but did not elaborate on specifics regarding fiscal measures, infrastructure spending, or targeted sectors. This uncertainty led to concerns about the pace and effectiveness of the recovery, especially for industries heavily dependent on Chinese demand for metals.

JSW Steel and Tata Steel, two of India’s leading steel producers, saw their shares fall by approximately 4%, while NMDC and SAIL dropped by around 3%. Analysts are closely monitoring further announcements from China to gauge the potential impact on global metal prices, which have been volatile due to ongoing economic challenges.

Investors had hoped for more concrete actions from China to support demand for steel and other metals, but the vague stimulus plans left market sentiment weak. The slump in metal stocks adds to the broader concerns about global economic growth and commodity market instability.

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