Shares of Hindustan Copper came under pressure in Wednesday’s session after silver prices hit the lower circuit on the Multi Commodity Exchange (MCX), triggering profit booking across metal-linked stocks and weighing on overall sentiment in the commodities space.
The weakness in Hindustan Copper shares follows a sharp correction in silver prices, which had rallied strongly in recent sessions and touched record highs earlier this week.
Silver hits lower circuit on MCX
Silver contracts across key maturities declined by the maximum permitted 6% on Wednesday amid heavy selling. The March 2026 silver contract slipped to around Rs 2.35 lakh per kg, down nearly Rs 15,000, while SilverM and SilverMIC contracts also fell to the Rs 2.37 lakh per kg zone.
The sharp fall came just a day after silver prices had surged to an all-time high of Rs 2.41 lakh per kg in the domestic market, prompting aggressive profit booking. Exchange-imposed circuit limits further amplified the intraday correction.
The sudden reversal in silver prices impacted broader metal stocks, including Hindustan Copper, as traders locked in gains after the recent rally in commodities. Although Hindustan Copper is primarily linked to copper prices, sentiment across the metals pack weakened as precious metals corrected sharply.
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