Nifty Metal index enters 'correction zone'; Here are its worst performers
Published on 23/03/2026 02:13 PM
Copper prices are at their lowest level since December 2025 and are down 11% over the past month.Metals extend their decline as the ongoing West Asia conflict intensifies inflation fears. A rise in the dollar and US Treasury yields, along with liquidation to offset losses in other asset classes, is adding to the pressure. Markets are now factoring in a 50% probability of one rate hike by year-end.Gold has slipped below $4,400 per ounce after hitting an all-time high of $5,600 in January 2026. Prices fell 10% last week, marking the biggest weekly decline since 1983.Silver has dropped 15% over the past week and is now at $65 per ounce, compared to $120 earlier in 2026. Prices have been declining for four consecutive weeks.Copper prices are at their lowest level since December 2025 and are down 11% over the past month.Metal stocks are leading the sell-off in today's session, tracking the weakness in global markets after a disappointing week. The top losers on the Nifty Metal index include Vedanta, Hindalco, Tata Steel, Hindustan Copper, and National Aluminium.Vedanta is the biggest loser on the index, down 5%. At the day's low, its market capitalisation stood at ₹2.49 lakh crore. Hindalco is also among the top Nifty 50 losers, down 4%, while NALCO has declined 4.5%.All constituents of the Nifty Metal index are trading in the red today, with losses ranging between 4% and 5%.Between January 29 and March 23, the Nifty Metal index has declined 13%, reflecting broad-based weakness across the sector.Among individual stocks, Hindustan Copper has fallen the most, down 40.6%, followed by Hindustan Zinc (-31.66%), National Aluminium (-18.92%), Hindalco (-18.09%), and Vedanta (-16.41%). Other notable declines include Jindal Stainless (-14.16%), NMDC (-11.19%), JSW Steel (-9.91%), Adani Enterprises (-9.27%), SAIL (-7.49%), Tata Steel (-7.04%), APL Apollo Tubes (-6.87%), and Jindal Steel (-4.34%).Only two stocks have bucked the trend: Lloyds Metals & Energy, up 5.18%, and Welspun Corp, up 3.36%.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.