Nifty Metal Index Falls Over 3% Amid Easing Geopolitical Tensions and Economic Concerns
Metal stocks declined sharply on Tuesday, with the Nifty Metal index falling around 3.2%, led by Vedanta's 7.9% drop. The sector's downturn followed easing geopolitical tensions in West Asia, falling commodity prices, domestic economic slowdown concerns, and expectations of US Federal Reserve rate hikes. Analysts noted the recent rally was driven by supply disruptions and demand resilience but advised caution amid profit-booking and technical corrections. Broader market indices also closed lower on the day.