Mining stocks were at the top of the fallers list on Wednesday as concerns over Greece’s future continue to weigh on the global economic outlook.
Metals prices sank on concerns that the Chinese economy may be affected greatly by Greece leaving the euro: investment bank China International Capital Corp said today that the world’s second-largest economy could see its lowest levels of growth in more than two decades in this scenario.
Diversified miner Vedanta Resources was leading the sell-off before the close, dropping over 8%. Sector peers Kazakhmys, Polymetal, Xstrata, Glencore and Fresnillo were also suffering heavy losses.
Heading the other was the healthcare equipment and services sector with medical devices maker Smith & Nephew benefiting from renewed bid speculation.
Top performing sectors so far today
Health Care Equipment & Services 3,339.57 +0.41%
Bottom performing sectors so far today
Industrial Metals & Mining 3,097.96 -5.07%
Mining 17,032.77 -4.49%
Forestry & Paper 5,412.61 -3.83%
Life Insurance 3,777.75 -3.43%
Chemicals 7,911.69 -3.06%