Shares of Hindustan Copper witnessed a sharp intraday correction of nearly 11% from the day’s high on Monday as copper prices retreated from record levels, while weakness in silver further dented sentiment across metal-linked stocks.
The selling pressure emerged after copper futures on the MCX slipped from their intraday peak, even though prices remain elevated on a broader timeframe. Earlier in the session, copper prices surged on tight global supply conditions, but profit booking at higher levels triggered a pullback, weighing heavily on Hindustan Copper, which closely tracks movements in the red metal.
At around mid-session, MCX copper futures were trading near Rs 1,319 per kg, up over 3% on the day but well off their intraday highs. Traders attributed the decline in Hindustan Copper shares to short-term exhaustion after a strong rally, with the stock having climbed sharply in recent sessions amid optimism around global copper prices.
Adding to the pressure was renewed weakness in silver prices, which slipped sharply from recent record highs. In the domestic market, silver has corrected by nearly Rs 20,000–21,000 per kg from peak levels, triggering broad-based profit-taking across metal stocks. Although Hindustan Copper is primarily linked to copper, sentiment across the metals space tends to move in tandem, especially after steep rallies.
Silver had earlier seen an exceptional surge, driven by strong industrial demand, expectations of US rate cuts, geopolitical tensions, and supply concerns, particularly after reports of China planning export restrictions from January 2026. However, the recent correction in silver has prompted investors to pare exposure to metal stocks that had rallied aggressively.
Market participants noted that both copper and silver correcting simultaneously amplified selling pressure in Hindustan Copper, leading to the steep intraday decline. Despite the fall, analysts highlighted that the broader outlook for base metals remains tied to global demand trends, energy transition themes, and supply disruptions, even as near-term volatility persists.
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