Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Metal stocks across Indian markets plunged sharply on January 30, dragging the Nifty Metal Index deep into the red as broad selling pressure hit the sector. Shares of major metal names such as Vedanta, NALCO, Hindustan Copper, Hindalco, SAIL, and Tata Steel saw steep declines, with certain counters falling up to 10% in intraday trade. The rout wiped out recent gains and ended the metal index’s short winning streak.The sell‑off was triggered by a combination of profit booking after recent rallies in metals, declining global commodity prices — particularly copper, silver and aluminium — and a stronger U.S. dollar, which dampened investor sentiment toward commodity‑linked stocks. Weakness in global markets and heightened volatility in base metal prices contributed to the broad retreat.
Shares of National Aluminium Company (NALCO) and Hindustan Copper were among the hardest hit, falling sharply after rallying in recent sessions. Other metals and mining stocks also traded lower as selling pressure intensified in morning deals.Market watchers noted that while metals have enjoyed strong momentum in the past weeks, the sudden shift in sentiment highlighted risks from global commodity volatility and profit taking by short‑term traders.
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