Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Indian metal stocks took a sharp hit on March 4, 2026, as risk-off sentiment spread across Dalal Street amid escalating Iran–Israel tensions and a jump in crude oil prices. Tata Steel led the fall, sliding as much as 8% to an intraday low near ₹194.43, as investors cut exposure to commodity-linked counters.
The weakness was broad-based. The Nifty Metal index dropped about 5% intraday, while Hindustan Copper and Vedanta traded lower by roughly 5% and 4%, respectively. Losses also extended to names such as Hindalco, SAIL, Hindustan Zinc, NMDC, APL Apollo Tubes and Welspun Corp, reflecting caution across ferrous and non-ferrous plays.
Market participants flagged rising energy costs, inflation worries, fears of a global growth slowdown, and sustained FII selling as key drags on sentiment. The broader market mirrored the pressure, with Sensex and Nifty sliding around 2% during the session.
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