Indian metal stocks extend slide after global selloff

Hindustan Zinc

01/02/2026 04:17

** Indian metal stocks .NIFTYMET drop 3%, tracking global metal prices on firmer dollar, profit taking

** .NIFTYMET biggest loser among sectoral indexes; 12 of 15 constituents in the red

** Sub-index slid 5.2% on Friday

** Hindustan Copper HCPR.NS, Hindustan Zinc HZNC.NS biggest losers on the sub-index, down 15.6% and 11.7%, respectively

** Nomination of Kevin Warsh as next Fed chair prompted a rapid macro re-pricing: dollar strengthened, and leveraged positions in gold and silver viewed as overextended debasement hedges unwound swiftly - Ponmudi R, CEO of Enrich Money

** Blue-chip Nifty 50 .NSEI index little changed on Sunday, dropped 3.1% in January

** Nifty Metals index rose ~6% in January

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))