Metal stocks plunge as global risk-off sentiment intensifies. The Nifty Metal index tumbled nearly 5 percent to 11,690.30, dragged down by major players including Tata Steel, which fell 7.6 percent to 194.80, and Steel Authority of India, declining 8 percent to 152.40. NMDC dropped over 5 percent amid heavy selling across industrial, base, and mining metal counters. Analysts attribute the sharp correction to a strengthening US dollar, declining global metal prices, and escalating geopolitical tensions in West Asia. Rising coal and logistics costs, combined with concerns over copper demand amid global uncertainties, are pressuring sector margins. National Aluminium emerged as the sole bright spot, gaining over 2 percent. Technical analysts identify 11,650 as a key support level to monitor for potential stabilization in coming sessions.
