News

Metal Stocks Today: Metal stocks came under sharp selling pressure on Friday, with the Nifty Metal index sliding as much as 5 per cent to 11,855.85 on the National Stock Exchange (NSE) during intra-day trade, as investors locked in profits after a strong recent rally. This marked the sharpest intra-day fall for the metal index in nearly nine months. The previous steep decline was seen on April 7, 2025, when the index had plunged 8.6 per cent during the session.

At around 13:02 AM, the Nifty Metal index was down over 5 per cent, emerging as the top loser among sectoral indices, while the benchmark Nifty 50 slipped 0.56 per cent.

Both ferrous and non-ferrous metal stocks witnessed heavy selling. Hindustan Copper led the decline, plunging 11 per cent to Rs 680 in intra-day trade. National Aluminium Company (NALCO) dropped 10 per cent to Rs 387.50, while Vedanta slipped 8 per cent to Rs 702.4.

Other major losers included Hindustan Zinc, down 7 per cent at Rs 663.25, Hindalco Industries, which fell 6.5 per cent to Rs 957.90, and NMDC, lower by 6 per cent at Rs 79.87. Shares of Jindal Steel, Steel Authority of India (SAIL), Lloyds Metals, Tata Steel, Jindal Stainless and JSW Steel declined in the range of 3 per cent to 5 per cent.

Market participants attributed the sharp fall largely to profit booking, as metal stocks had significantly outperformed the broader market over the past month. Several stocks in the sector had surged as much as 56 per cent till Thursday, prompting investors to pare positions.

Most metal stocks had also touched all-time highs on January 29, 2026, adding to near-term valuation concerns. Over the past one month, the Nifty Metal index jumped 16 per cent, sharply outperforming the Nifty 50, which declined 2 per cent during the same period.

Despite Friday’s correction, metal stocks continue to hold on to a large part of their recent gains. Hindustan Copper, which hit a record high of Rs 760.05 on Thursday after rallying 56 per cent in a month, is still up 35 per cent over the past one month even after the sharp fall.

Similarly, stocks such as Vedanta, Hindalco Industries, Hindustan Zinc, Tata Steel, Jindal Steel and JSW Steel have gained between 9 per cent and 19 per cent over the last month, data showed.

While the near-term pressure reflects profit taking after a strong rally, market participants will closely track global metal prices, demand trends and cues from China to assess whether the sector’s recent outperformance can sustain going ahead.