Metal Stocks Plummet Amid Weak Market Sentiment and Falling Commodity Prices

Shares of metal companies such as Hindalco, Nalco, SAIL, Vedanta, Hindustan Zinc, and Hindustan Copper plummeted during Friday's intraday trading session.

The decline in metal stocks coincided with a sharp drop in commodity prices. The Nifty Metal index fell 1.52% by the end of the day.

Hindalco saw the biggest fall, its shares dropping by 6%. Other companies such as Nalco, Vedanta, SAIL, Hindustan Copper, and NMDC also witnessed significant losses, with their shares falling between 2.58% and 4.53%.

The decline in metal stocks can be attributed to the weaker overall sentiment prevailing across the Indian stock market. The Nifty 50 was down by 0.28%, while the BSE Sensex fell by 0.19%. Additionally, a drop in base metal commodity prices may have triggered the sharp sell-off.