India's metal stocks plunge as U.S. tariffs trigger global recession worries

National Aluminium

04/04/2025 07:29

** India's metal stocks .NIFTYMET plunge 5.5% to hit a one-month low of 8,508.05; on course for the worst single-day percentage drop since June 2024

** Stocks fall amid decline in base metal prices due to fear that U.S. President Donald Trump's tariffs may hit global growth

** Hindalco HALC.NS, Tata Steel TISC.NS, Vedanta VDAN.NS, and National Aluminium Company NALU.NS slide 6%-7%, while JSW Steel JSTL.NS falls 4.3%

** "The second-order effect (of U.S. tariffs) will hurt India more. We are now assuming a severe U.S. recession and a significant short-term correction in global commodities. Metals will be hit the most," says Emkay Global Financial Services

** Metal index slips into losses YTD, down 1.6%, vs 3% drop in benchmark Nifty 50 .NSEI

(Reporting by Vivek Kumar M)

(((( VivekKumar.M@thomsonreuters.com ))))