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Vedanta, Hindustan Zinc shares lead ₹1.25 lakh crore Metal stocks rout on FridayOnly two out of the 15 stocks on the Nifty Metal index ended with gains during Friday's trading session, with Vedanta, Hindustan Zinc, Hindustan Copper and NALCO witnessing double-digit drops.By Hormaz Fatakia    |  Yoosef K   January 30, 2026, 5:02:22 PM IST (Published)2 Min ReadVedanta Ltd. and its subsidiary Hindustan Zinc Ltd. contributed to more than half of the ₹1.25 lakh crore that constituents of the Nifty Metal index lost in Friday's sell-off on Dalal Street.

Shares of Vedanta Ltd. fell 11.2% on Friday, marking their biggest single-day fall since June 2022. The fall wiped out over ₹33,000 crore of the company's market capitalization.

Things were not rosy for Vedanta's subsidiary Hindustan Zinc either. The 12.5% drop on Friday was the biggest in a single session since January 21, 2008. The fall wiped out ₹36,000 crore of the company's market cap. Hindustan Zinc, the only listed Silver play in India, recently became the most valued metal stock in the country, surpassing JSW Steel and Tata Steel as its market capitalization crossed the ₹3 lakh crore mark.

Together, Hindustan Zinc and Vedanta contributed to 56% of the total market cap erosion of ₹1.25 lakh crore among the Nifty Metal constituents.

Stocks such as Hindalco and Tata Steel also saw market cap erosion of ₹13,644 crore and ₹11,472 crore respectively. NALCO's 10% drop after its earnings wiped out nearly ₹8,000 crore from its market capitalization.

Metal StockFriday's FallMarket Cap Erosion (₹ Crore)Vedanta11.2%33,000Hindustan Zinc12.5%36,000Hindalco6%13,644Tata Steel4.8%11,473NALCO10%7,970Hindustan Copper11.1%7,170

Gold and Silver prices have seen wild swings through the day, not just in the global spot market, but also in India. 

Copper prices also fell from record levels after a delayed start to trade on the London Metals Exchange due to technical issues. Futures fell over 4% on the three-month benchmark, in-line with the sell-off in other precious and base metals. CME increased its margins for Copper trading by 20% earlier in the day.

Barring Jindal Stainless and Adani Enterprises, all other constituents on the Nifty Metal index ended with losses on Friday.Continue ReadingTagsHindustan CopperHindustan Zinc Ltd HZLmetal stocksNifty Metalshare market todayVedantaVedanta Share Price