JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
Metal stocks saw heavy selling pressure as investors reacted to rising geopolitical tensions, energy supply disruptions, and fears of weaker industrial demand. Shares of Vedanta, Tata Steel, Hindustan Copper, SAIL, NMDC, JSW Steel and Jindal Steel came under pressure, dragging the Nifty Metal index sharply lower.
The selloff was driven by two major concerns. First, the prolonged Middle East conflict has raised worries over oil, gas and shipping disruptions, which could increase costs for metal and steel producers. Second, after a strong run-up in recent months, the sector is seeing profit booking as investors reassess near-term demand risks.
Brokerage commentary also pointed to operational risks for steelmakers, especially those dependent on industrial gases and imported energy-linked inputs. Some analysts warned that if gas supplies tighten further, production could be impacted, although firmer steel prices may partly offset cost pressure for some producers.
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