Hindustan Zinc Shares Plunge as Silver Prices Crash Over 8% Amid Peace Hopes

• Hindustan Zinc shares fell 2.18% to Rs 611.65 after silver prices dropped significantly.
• Silver futures on MCX saw March expiry contracts fall over 7% and May expiry contracts by 8%.
• The decline in silver is attributed to profit booking and hopes of a Russia-Ukraine peace deal, reducing safe-haven demand.
• As India's largest silver producer, Hindustan Zinc's stock was directly impacted by the commodity's fall.
• Silver ETFs, including Aditya Birla and Axis Silver ETF, also experienced declines of 1-2%.

Why It Matters: Silver price crash, driven by profit booking and peace hopes, dragged down Hindustan Zinc and silver ETFs.