The Nifty Metal index fell 5% intraday, marking its sharpest single-day decline since April 7, 2025, as heavy selling swept across metal stocks amid weakness in commodity prices.
Hindustan Copper and Vedanta led losses, sliding nearly 7%. Other index constituents also came under pressure, with Hindustan Zinc, Hindalco, SAIL, Tata Steel and JSW Steel declining between 2.5% and 6% during the session.
Among individual stocks, Hindustan Copper saw 1.32 million shares change hands in a block trade, adding to intraday volatility in the counter.
Weakness was also visible in the commodities market. On the MCX, silver March futures fell 4.5% to Rs 3.82 lakh per kg, while gold February futures declined 3% to Rs 1.78 lakh per 10 grams.
The metal index was the top sectoral loser on the NSE, underperforming the benchmark Nifty 50, which was down over 0.5%.
The sell-off in precious and base metals followed a sharp rise in the US dollar index, which climbed nearly 0.5% after US President Donald Trump and Democrats reached an agreement to avoid a partial government shutdown. The US Federal Reserve's decision to maintain a status quo on interest rates further supported the dollar, weighing on metal prices.
Metal Stocks Share Price Today
As of 10:50 a.m.,
- Vedanta: 6.90% down
- Hindustan Zinc: 6.69% down
- Hind Copper: 6.60% down
- Hindalco: 5.38% down
- Tata Steel: 4.50% down
- SAIL: 3.90% down
- JSW Steel: 1.58% down
The Nifty Metal index is down 4.19%, as compared to a 0.50% dip in the benchmark NSE Nifty 50.
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