The Nifty Metal Index faced sharp losses as Hindustan Copper (CPR.NS) plunged 16.1%, becoming the top loser, while Hindustan Zinc dropped 10.8%. Weak global commodity sentiment, profit booking, and investor caution drove the sell-off, highlighting volatility in India’s metals sector and raising concerns about near-term performance of resource-linked stocks.
Metal Meltdown: Hindustan Copper & Hindustan Zinc Lead Declines on Nifty Metal Index
India’s metals sector witnessed a steep downturn as the Nifty Metal Index came under heavy pressure. Shares of Hindustan Copper fell 16.1%, making it the biggest loser on the index, while Hindustan Zinc dropped 10.8%, reflecting widespread weakness across resource-linked stocks.
Analysts attribute the decline to global commodity market volatility, with copper and zinc prices facing downward pressure amid concerns over slowing demand and stronger dollar trends. Domestic profit booking and cautious investor sentiment ahead of fiscal policy announcements further amplified the sell-off.
Major Takeaways
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Top loser: Hindustan Copper shares down 16.1% on Nifty Metal Index.
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Sharp decline: Hindustan Zinc shares fell 10.8% in the same session.
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Global impact: Weak commodity prices and stronger dollar weighed on sentiment.
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Investor caution: Profit booking ahead of fiscal announcements added pressure.
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Sector volatility: Highlights risks in India’s metals and mining stocks.
The sharp fall underscores the sensitivity of India’s metals sector to global market swings, reminding investors of the need for cautious positioning in resource-heavy portfolios.
Sources: Economic Times, Business Standard, Moneycontrol