Friday, January 23
Shares of Hindustan Zinc rose nearly 4% on Friday, January 23, emerging among the top gainers on the NSE, tracking a sharp rally in global silver prices that touched fresh all-time highs.
In early trade, Hindustan Zinc shares were trading around Rs 695, up about 4%, as sentiment around metal stocks improved following a strong surge in precious metals. Silver prices jumped close to 3% during the session, climbing toward $99 per ounce, supported by a weaker US dollar and heightened demand for real assets.
The rally in silver provided a boost to stocks linked to base and precious metals, with investors reacting to improving price realizations across the metals complex. Silver futures on the Multi Commodity Exchange (MCX) were trading higher by over 2.5%, mirroring strength seen in international markets.
The surge in silver prices comes amid multiple global triggers, including expectations that the US Federal Reserve will keep interest rates unchanged in the near term, continued pricing in of potential rate cuts later this year, and geopolitical developments that have pressured the US dollar. Market participants have also cited supply-side constraints and strong buying interest in silver as key drivers of the ongoing rally.
Hindustan Zinc, a major integrated producer of zinc, lead, and silver, tends to see positive market reaction during periods of strong metal price momentum. Friday’s move in the stock reflected broader optimism across metal counters amid record-high silver prices.
As of the latest trade, Hindustan Zinc shares were trading near their day’s highs, supported by heavy volumes and strong sectoral sentiment.
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