Like the past three days, the country's stock market has been down since Thursday morning. At around 10:45 AM, Nifty50 fell by nearly 110 points and Sensex dropped by 318 points. Along with the two benchmark indices, prices of multiple stocks in the metal sector have declined. The Nifty Metal sectoral index has also fallen by 2.9 percent. Why did the metal sector crash in Thursday's market?
On Thursday, the Nifty Metal index fell by 2.9 percent to 11,191 points. At the time of writing this report, all 15 company stocks listed on the Nifty Metal index are down.
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Among these, Hindustan Zinc's share price has fallen the most. Hindustan Zinc's share price dropped by nearly 5 percent to ₹599, which is the lowest since August 2024.
On Thursday, National Aluminium Company Limited (NALCO)'s share price fell by 4.3 percent. Hindustan Copper's share price declined by 4.7 percent. Hindalco and Vedanta's share prices dropped by 3 percent. Tata Steel, JSW Steel, and SAIL's share prices fell by more than 2 percent.
A major section of market experts attribute this crash in the country's metal stocks to falling prices of various metals including silver in the international market and profit booking by investors. Silver prices have declined significantly in the international market.
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Copper and nickel prices have fallen by more than 2 percent. On Shanghai Futures Exchange base metals, aluminum prices dropped by 1.99 percent. Zinc prices fell by 1.40 percent, lead prices declined by 1.75 percent, and tin prices dropped by 1.53 percent.
(Ei Samay Online does not provide investment advice anywhere. Investment and trading in stock markets or any field involves risk. Proper research and expert consultation are advisable beforehand. This news is published for educational and awareness purposes.)
