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Metal Index drops

October 29, 2010

People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai January 24, 2008. REUTERS/Punit Paranjpe/Files

The BSE Metal index fell 1.3 percent on Friday and aluminium maker Hindalco Industries slipped more than 5 percent in intra-day trade, largely tracking a fall in international metal prices.

Base metals fell an average 1.9 percent, with copper reversing the previous session’s gains ahead of U.S. GDP data and next week’s pivotal FOMC meeting.

Metal index stocks which ended the day in the red were Hindalco (down 2.7 pct), SAIL (down 3.8 pct), Tata Steel (down 2.4 pct), and Bhushan Steel (down 2.43 pct).

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