Hindustan Zinc Shares Jump 3% as Silver Hits Record Highs, ETFs Surge

• Hindustan Zinc shares rose nearly 3% to ₹647.70, marking the fourth consecutive day of gains, driven by a record surge in silver prices.
• Silver March futures on MCX hit a new all-time high of ₹2,82,750 per kilogram, with May and July contracts also setting new records.
• The rally in silver was fueled by softer US inflation data, strengthening expectations of further interest rate cuts by the US Federal Reserve.
• Hindustan Zinc, as India's largest silver producer, directly benefits from rising silver prices, with its shares climbing 7% in five days and 48% in six months.
• Silver-based Exchange Traded Funds (ETFs) like Groww Silver ETF, DSP Silver ETF, and Nippon India Silver ETF also surged by 3% to 5%, reaching record levels.

Why It Matters: Hindustan Zinc shares and Silver ETFs surged due to record silver prices, driven by US inflation data and rate cut hopes.