Money on the markets
A maturing market amid the mayhem
The BSE Metal index dropped 5.1 percent on Tuesday, the lowest among the sectoral indices.
The BSE Sensex also dropped to its lowest in more than three months as renewed fears over Europe’s debt woes triggered worries foreign portfolio investors will step up their withdrawals.
Leading the fall in the BSE Metal index were Bhushan Steel, which dropped 4.7 percent, Hindustan Zinc, which dropped 4.9 percent, and JSW Steel, which was down 5.7 percent.
Tata Steel and Sterlite Industries, which were among the top Sensex losers, fell over 4 percent.
The benchmark closed at 8446.
ICICI Bank, India’s top private lender, fell over 4 percent on concerns the bank’s Russian assets may be vulnerable as firms there struggle to stay afloat.