Metal Stocks, Tata Motors Crash On China Fears

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Shares in metal companies and Tata Motors, which are directly impacted by problems in China fell sharply after Chinese stocks crashed, raising worries over demand.

The largest market for Jaguar Land Rover owned by Tata Motors is China and the sudden collapse in markets there raised worries over demand in China.

Metal Stocks, Tata Motors Crash On China Fears
Tata Motors: Quotes, News
BSE 531.95BSE Quote3.6 (0.68%)
NSE 531.95NSE Quote3.35 (0.63%)
Vedanta: Quotes, News
BSE 166.40BSE Quote2.25 (1.35%)
NSE 166.60NSE Quote2 (1.20%)

Tata Motors was down a huge 6 per cent in trade. Metal stocks also melted as investors fretted over demand from China.

Vedanta was down 9 per cent, Hindalco was down 6 per cent and Tata Steel slumped 4 per cent. Both the stocks touched a new 52-week low on the National Stock Exchange.

Dealers say this maybe more of a sentimental impact more than anything else. They expect some short covering to happen that could lead to a bounce bank in these shares.

Read more on the Asian markets collapse here

GoodReturns.in

Read more about: tata motors, nse, metal, china
Story first published: Wednesday, July 8, 2015, 12:11 [IST]
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