Shares of Reliance Communications today fell more than two percent in morning trade on bourses after credit rating agency Fitch said it has withdrawn ratings of debt-ridden Reliance Communications for commercial reasons.
Metals stocks lost shine following correction in commodities prices in international market as investors raised doubts over China demand for metals.
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The Nifty Metal was biggest loser among sectoral indices, falling 1.5 percent as Hindustan Zinc, Hindalco Industries, Vedanta, Hindustan Copper, Tata Steel, Jindal Steel, NALCO, SAIL and MOIL rallied 1-3 percent.
Copper prices fell 3 percent and steel prices declined 2 percent while aluminium prices dropped 1.5 percent.
Brazil, India corporate debt most vulnerable to rate hikes - McKinsey
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