Metal stocks take a breather after big rally
After recent gains, the Nifty Metal index hit pause on Thursday, with all 15 metal stocks slipping into the red.
Hindustan Zinc led the drop, down nearly 5%, as investors locked in profits from recent gains.
Why does this matter?
If you're watching markets or thinking about investing, it's a reminder that what goes up fast can come down just as quickly—especially when everyone rushes to cash out at once.
Big names like NALCO and JSPL also fell around 4%, showing this pullback is sector-wide and could stick around for a bit.
What's behind Hindustan Zinc's bigger drop?
Hindustan Zinc got hit extra hard because of expected silver selling linked to Bloomberg Commodity Index changes next week.
With heavy silver outflows predicted—Citi says up to $7 billion could move—metal sentiment has taken a knock, especially for companies tied to silver prices.