Selling pressure on metal and mining stocks likely to persist: Analysts

The sell-off has been triggered by the central government's decision to impose export duty on steel in a bid to thaw domestic prices

The selling pressure seen on metal and mining stocks is expected to persist as the wider fallout of the imposition of export duty has not been fully priced in by the Street yet, observe analysts.

The BSE Metal Index has been down 15 per cent in the past month, even as the Sensex traded flat during the same period.Shares of Steel Authority of India (SAIL), JSW Steel, NMDC, and Jindal Steel & Power (JSPL) have plunged over 20 per cent during the same period.

The sell-off has been triggered by the central government’s decision to impose export duty on steel in a