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Metal Stocks worst hit, JSW Steel lose 14-pc


Market indices r slipped near 8 percent each on Monday closing session after the Federal Reserve’s rate slash cooled concerns over the effect of Covid19 on the world economy.

At close, the Sensex ended lower by 2713-pts lower at 31,390.07 while the Nifty stood at 9,197.40, down by 758 points,.

YESBANK is the only gainer in the index, which was up by 45-percent at Rs.37.05 per share. Major losers were IndsInd Bank, JSW steel, Vedanta, Tata Steel and ICICI bank.

All sectors ended in the red with the Nifty Metal, Banking, IT slipped the most, down by near 9 and 8 percent each. Get the most updated  Stock to buy  tips and all  best stocks tips  from here.

Among Stocks, YESBANK advanced 45-percent quoting share price at Rs37.05 percent after the cabinet sanctioned its restructuring scheme to assist the Bank.

Nifty Bank index closed 8.21 percent lower at 23,101.15 with RBL bank, IndusInd bank, IDFC First and ICICI Bank, Axis Bank ending with deep cuts.

Metal stocks slipped the most, down by over 9 percent, led by JSW Steel, Jindal Steel, Vedanta and Tata Steel, between 14 and 10 percent.