Hindustan Copper Hits Record High, Then Falls 10% Amid Global Metal Volatility

• Hindustan Copper (HCL) shares surged nearly 15% to a new 52-week high of Rs 545.95, extending gains for the seventh straight session.
• Despite hitting a record high, HCL trimmed most gains due to profit booking, settling up 2.58% and falling 10% from its peak.
• The rally was fueled by soaring copper prices on LME and MCX, driven by tight supplies, US economic data, Fed rate cut hopes, and a weaker dollar.
• HCL's market capitalization briefly touched Rs 50,000 crore, with the stock gaining over 36% in seven trading sessions.
• Nifty Metal index also hit a 52-week high, with experts citing a favorable global macro setup and broad-based buying across metal stocks.

Why It Matters: Hindustan Copper saw significant gains and profit booking amidst a global metal price rally driven by strong fundamentals.