SPX4,982.77-79.48 -1.57%
DIA376.48-3.09 -0.81%
IXIC15,267.91-335.35 -2.15%

BUZZ-Indian metal stocks fall on demand worries after US curbs on China

Reuters·02/25/2025 07:58:37
Listen to the news
BUZZ-Indian metal stocks fall on demand worries after US curbs on China

** Indian metal stocks .NIFTYMET drop 1.15%, with 12 of its 15 constituents in red

** Drop comes after U.S. President Donald Trump signed memorandum that directs Committee on Foreign Investment in the US to restrict Chinese investments in strategic areas

** Restrictions could hurt demand for metals in China, the world's top consumer and producer of metals, analysts say

** Dollar strength also continues, which could impact the input price for metals MET/L

** Stronger dollar makes it more expensive for holders of other currencies to buy metals

** Hindalco HALC.NS top pct loser on the index, down 2.7%

** Vedanta VDAN.NS and JSW Steel JSTL.NS also among top losers, down 2.8% and 1.4%, respectively

** The index is down about 3.8% so far this year vs a 4.5% loss in Nifty 50 .NSEI


(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))