Steel Authority of India, Sterlite Industries, Hindalco Industries, and Hindustan Zinc were down by 0.18% to 2.86%.Sector bellwether and world's sixth largest steel maker Tata Steel rose 0.58%, which helped a 0.53% rise in BSE Metal index at 5,261.43. The metal index outperformed the BSE Sensex, which was down 0.19% at 9,821.44.
Shanghai copper futures fell to their weakest in almost four years on Wednesday, chasing sharp losses overnight in London on gathering gloom about the global economy. A measure of six metals traded on the London Metal Exchange (LME) declined 4.2% yesterday (11 November 2008) to the lowest level since September 2004.
The BSE Metal index had underperformed the market over the past one month till 11 November 2008, falling 20% as compared to the Sensex's 6.54% decline. It had also underperformed the market in the past one quarter, falling 60.16% as compared to the Sensex's fall of 36.53%.
