Metal Stocks Tumble as Profit Booking Drags Nifty Metal Down Nearly 5%

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Metal Stocks Tumble as Profit Booking Drags Nifty Metal Down Nearly 5%

Metal stocks came under sharp selling pressure on January 30, with the Nifty Metal index sliding nearly 5% in early trade. The decline followed heavy profit booking after a strong recent rally, along with weakness in global commodity prices and cautious broader market sentiment. Stocks like Hindustan Copper, NALCO, Vedanta and Hindustan Zinc led the losses, making metals the worst-performing sector on Dalal Street.

Published by Somesh | January 30, 2026

Metal shares witnessed a sharp correction on January 30 as investors booked profits after a strong rally in recent weeks. The Nifty Metal index slipped close to 5%, snapping its three-day winning streak and emerging as the worst-performing sector in early trade. The broader market also opened lower, with the Sensex and Nifty declining amid weak global cues and cautious sentiment ahead of key macro developments.

Several metal stocks had significantly outperformed the broader market over the past month, prompting investors to pare positions. Stocks such as Hindustan Copper, NALCO, Vedanta, Hindustan Zinc, Tata Steel and Hindalco faced heavy selling pressure, even as some companies reported strong quarterly earnings.

Global uncertainty further weighed on sentiment, with volatility in commodity markets, a stronger US dollar and concerns over US monetary policy adding to the pressure. While near-term volatility in metal stocks may persist, policy support for mining reforms and critical minerals could offer long-term structural support to the sector.