Mon Feb 24 07:20:00 UTC 2025: ## Nifty Metal Index Plunges 1.6% After Five-Day Rally, US Tariffs Weigh on Sector

**Mumbai, India** – The Nifty Metal index suffered a significant setback on Monday, plummeting 1.6 percent after a five-day winning streak. The decline was attributed to weak global sentiment and concerns over the United States’ recent announcement of a 25 percent tariff on all steel and aluminum imports. While India isn’t a major exporter to the US, analysts warn that global price shifts could impact domestic markets.

National Aluminium Company Limited led the losses, falling 4 percent, followed by SAIL (down 3.47 percent) and Vedanta (down 2.3 percent). NMDC also experienced a sharp drop, closing down 2.85 percent. All 15 constituents of the Nifty Metal index traded in negative territory during intraday trading.

The sell-off follows a period of gains fueled by speculation that the Indian government might introduce safeguard duties to protect the domestic metal sector. Last Friday, the Nifty Metal index was the only sectoral index to close positively.

Industry players have been lobbying the government to address rising imports, particularly from China, which they claim is harming their competitiveness.

The situation highlights the vulnerability of the Indian metal sector to global market fluctuations and trade policy changes. Investors are advised to exercise caution and seek professional advice before making any investment decisions.

Read More