Whalesbook
The Nifty Metal index dropped 1.4% as the government extended exemptions on quality control orders for certain steel grades, potentially boosting imports and pressuring domestic prices. Hindalco Industries was a leading decliner, impacted by a fire at its crucial Novelis aluminium plant in New York. Tata Steel and JSW Steel also saw declines, compounded by fading hopes of US interest rate cuts and a strengthening dollar.