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Last Updated : 27 October 2009 at 11:05 IST

Metals melt on bourses: Sterlite, Tata Steel down

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MUMBAI (Commodity Online): Metals stocks traded under heavy selling pressure even as the financial results of some leading companies are awaited.

Sectoral index, BSE Metals was trading at 14796 points down by close to 3% in the morning trading session today. The index losers included Sterlite Industries (India) Ltd, Tata Steel Ltd, JSW Steel Ltd.

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Stocks shed heavy losses in the morning trades today. Vedanta Group major, Sterlite Industries was trading with extended losses at Rs.792 down by close to 4%, while JSW Steel fell by over 3% at Rs.787 on BSE.

Tata Steel’s financial results for the second quarter of the current fiscal are awaited today, however the stock sank 2.5% to Rs.526.7 in anticipation of weak financial results.