Metal Stocks Plunge: Nalco, Hind Copper Hit One-Week Low Amid Global Price Retreat

Business
M
Moneycontrol•08-01-2026, 11:12
Metal Stocks Plunge: Nalco, Hind Copper Hit One-Week Low Amid Global Price Retreat
- •Nalco, Hind Copper, and Hindustan Zinc shares fell up to 5%, hitting a one-week low after a six-day rally.
- •Nifty Metal index dropped nearly 3%, marking its worst single-day percentage fall since April 2025.
- •The sharp decline is attributed to profit booking in base metals and a retreat in global metal prices.
- •Silver futures fell by Rs 4,000/kg; gold, aluminium, and copper futures declined around 1% each.
- •Commodity index rebalancing is expected to cause significant outflows in gold and silver, totaling $13.6 billion.
Why It Matters: Metal stocks declined sharply due to global price retreat, investor profit booking, and commodity index rebalancing.
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