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Last Updated : 20 November 2009 at 12:00 IST

Metal stocks melt, steel drifts lower

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MUMBAI (Commodity Online): Metal stock traded weak on the Bombay Stock Exchange today as the metal prices weakened on the Indian commexes.

Leading metal stocks including Sesa Goa Ltd (BOM: 500295) sank by 3.11% to Rs.357.90 in the morning trading session today. Welspun Gujarat Ltd (BOM: 532144) traded at Rs.282.20 down by close to 3.5%.

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Steel majors, including Tata Steel Ltd and JSW Steel Ltd too fell on the Bombay Stock Exchange (BSE) today. Tata Steel traded at Rs.529.30 down by 1.5% and JSW steel tanked by 2% at Rs.941.30 during the morning trades today.

Meanwhile, the benchmark index, Sensex was trading at marginal losses at 16780 points. The sectoral index, BSE Metals was down by over 1% at 15,705 points during the day.

The metal prices too remained under pressure on the commodity exchanges in India. Steel prices remained low on MCX today. Steel futures for MCX Dec contract stood at Rs.21300 per MT, which was down by Rs.140 during the day.