Vedanta, NALCO, Hindustan Copper, Hindustan Zinc, To Tata Steel: Why Nifty Metal Is Dragging Market Today?

Vedanta, NALCO, Hindalco, Hindustan Copper to Hindustan Zinc: Multiple metal stocks declined during Friday's intraday trading session. Nifty Metal was trading 0.68% lower, with NALCO, Hindustan Copper, and Hindustan Zinc among the top laggards.

NALCO stock was trading 5.64% lower at Rs 378.6 per share; Hindustan Copper scrip was down 3.12%, whereas Hindustan Zinc stock was down around 2.98% at 1:50 pm. Vedanta share price today was down nearly 1.09% to Rs 268.15 per share. Hindalco share price was trading 1.08% lower at Rs 1,035 per share.

Why Are Metal Stocks Trading Lower Today?

The fresh decline in metal stocks is more associated with profit booking rather than external factors weighing on sentiment. Nifty Metal has surged around 2% in one month and around 15.75% in 2026 so far.

"It looks like the fall in metal shares during Friday's trading is largely due to profit taking as well as weakness in global prices of metals rather than any negative development in the local fundamentals. Nifty Metals was already up 15% YTD, so a pullback following such strong gains was expected," explained Siddharth Maurya, Founder & Managing Director, Vibhavangal Anukulakara Pvt. Ltd.

Rising Aluminium Prices

The surge in aluminium prices impacted the performance of aluminium producers like Vedanta Aluminium, Hindalco Industries, and the state-owned National Aluminium Company Limited (NALCO).

"Shares of aluminium companies were under further pressure owing to concerns about rising global production, as well as a higher level of crude oil at almost $87 per barrel, which is generally negative for the market. Looking forward, the outlook for Nifty Metal Index is still cautiously optimistic, although volatile. The critical technical factor will be whether the index manages to defend its recent support levels; otherwise, a further decline is likely," Siddharth Maurya added.

Metal companies performed well during the earnings and have seen buying interest over the past few days. Strong momentum in the base metal prices and rally in silver prices also impacted the prospects of metal companies.

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