India's metal index drops nearly 5% as global prices retreat

HindalCo Industries

30/01/2026 07:15

** India's metal sub-index .NIFTYMET drops about 5%, retreats from record high hit in previous session; 13 of 15 constituents lose

** Nifty 50 .NSEI down 0.5%

** Set to snap three-session winning run, on retreat in global metal prices MET/L

** Hindalco HALC.NS slips 5.6%, Hindustan Copper HCPR.NS, National Aluminium Company NALU.NS and Hindustan Zinc HZNC.NS fall nearly 9%

** Tata Steel TISC.NS down 5.2%, Steel Authority of India SAIL.NS dips 3.8%; Vedanta VDAN.NS falls 7.7% and Jindal Steel JINT.NS down 2.6%

     ** Benchmark three-month LME copper CMCU3 drops 1.91% to $13,357.50 a ton

** Spot gold XAU= lost 3% to $5,232.57/oz, as of 0520 GMT, spot silver XAG= slipped 3.6% to $111.99/oz GOL/

** YTD, .NIFTYMET gains 6.4% vs .NSEI's 3.1% loss

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))