On Tuesday morning, i.e. 8 October 2024, a sharp decline was seen in metal stocks. The reason behind this decline is China. Market experts told on CNBC Awaaz that metal stocks have fallen due to the fear of recession in China. Because the World Bank has expressed concerns about China. The World Bank says that China's economic slowdown will increase further. Because no concrete plan has been made for the relief package. China's market Hang Seng has fallen by 6%. Shanghai market has broken from the day's highest level.

Sharp fall in metal stocks- Not just NMDC and NALCO, 14 out of 15 stocks of the Nifty Metal Index have fallen sharply.

China's top economic planner - the National Development and Reform Commission - discussed the package aimed at boosting economic growth. This package is considered low according to the economy. While officials said they are confident of achieving China's economic goals this year and promised further support, they refrained from giving more relief packages, disappointing investors. Relief package less than expected- Brokerage firm Morgan Stanley has written in a note that this relief package is much less than expected. The report says that it is unlikely that this package will increase demand. Metal stocks made a splash last week- By last Friday's close, the Nifty Metal Index had risen more than 8% since September 17, which was the start of a boom in Chinese stock markets before going on a week-long holiday. Tata Steel shares are among the biggest losers on the Nifty, trading with a loss of about 4%.