Global Trade Fears Trigger Sell-off in Metal Stocks

Metal stocks witnessed a steep drop amid fears of a global trade war following newly announced tariffs by President Trump. Vedanta saw an 8.45% decline, Tata Steel fell by 7.78%, and other metal stocks also experienced significant losses, highlighting investor apprehension over economic growth.

Shares of metal companies faced significant selling pressure after President Donald Trump announced a series of sweeping reciprocal tariffs, reigniting concerns about a global trade war.

Vedanta's shares plunged 8.45% to Rs 402.40. Similarly, Tata Steel fell 7.78% to Rs 141.70, and other metal stocks, including National Aluminium Company and Hindalco Industries, reported declines amidst investor uncertainty over escalating trade tensions.

The fears of recession and potential hindrance to global economic growth have exacerbated with the unexpected tariffs, as expressed by Amar Ambani, Executive Director at Yes Securities. Ambani noted the unchanged 25% US tariff on steel and aluminum is boosting US domestic prices, challenging India's market with cheap imports from other Asian countries.

(With inputs from agencies.)