Equity indices edge lower, metal scrips lose shine

Equity benchmark indices edged lower during early hours on Tuesday on the back of weak global cues and concerns over the recent spike in coronavirus infections.

At 10:15 am, the BSE SandP Sensex was down by 198 points or 0.41per cent at 47,979 while the Nifty 50 slipped by 55 points or 0.39 percent to 14,078.

Most sectoral indices at the National Stock Exchange were in the negative terrain with Nifty metal dropping by 1.4 per cent, PSU bank by 1.1 per cent and auto by 0.9 per cent.

Among stocks, metal stocks suffered with Hindalco retreating by 1.9 per cent to Rs 249.25 per share while JSW Steel and Tata Steel dropped by 1.8 per cent and 1.4 per cent respectively.

Tata Motors lost by 2.7 per cent, ONGC by 2.2 per cent, Mahindra and Mahindra by 1.7 per cent and Indian Oil Corporation by 1.5 per cent.