Metal Stocks Plunge Over 10% Today, Government Companies Hit Hardest After Rally

• Metal stocks, which were soaring until yesterday, experienced a sharp decline of over 10% today, with government companies suffering the most.
• The Nifty Metal Index fell by 5% within an hour of trading, becoming the top sectoral loser after a 9% gain in the previous three sessions.
• The decline is attributed to profit-booking by investors and a significant drop in commodity prices, including gold, silver, copper, and aluminum futures.
• Government-owned Hindustan Copper and NALCO saw declines of 10.5% and 10% respectively, while private players like Vedanta, Hindustan Zinc, and Tata Steel also fell.
• The fall in metal prices is linked to the US Federal Reserve's indication of potential interest rate cuts, impacting the global metal market.

Why It Matters: Metal stocks crashed over 10% due to profit-booking and falling commodity prices, hitting government firms hardest.