Stocks in the Indian metal sector experienced notable declines in early trading, as tracked around 9:41 AM IST. This movement aligned with a significant drop in international silver prices, which impacted companies with exposure to silver and other metals.
Key Metal Stock Performance (as of 9:41 AM IST)
Here are the listed scrips with their BSE and NSE prices and percentage changes:
- APL Apollo Tubes: BSE ₹2,177.50 (+0.13%), NSE ₹2,177.00 (+0.13%)
- Coal India: BSE ₹433.40 (-0.30%), NSE ₹431.90 (-0.69%)
- Hindalco: BSE ₹936.80 (-2.83%), NSE ₹935.40 (-3.06%)
- Hindustan Zinc: BSE ₹605.00 (-5.34%), NSE ₹603.80 (-5.55%)
- Jain Resource Recycling Ltd.: BSE ₹403.00 (-1.32%), NSE ₹401.95 (-1.51%)
- Jindal Steel & Power: BSE ₹1,164.00 (-0.20%), NSE ₹1,163.10 (-0.36%)
- JSW Steel: BSE ₹1,223.40 (-0.30%), NSE ₹1,220.90 (-0.59%)
- Maithan Alloys: BSE ₹1,033.00 (-0.93%), NSE ₹1,025.30 (-1.80%)
- MOIL: BSE ₹324.40 (-2.44%), NSE ₹322.20 (-3.11%)
- NALCO: BSE ₹361.25 (-3.65%), NSE ₹360.75 (-3.77%)
- NMDC: BSE ₹84.46 (-1.74%), NSE ₹84.28 (-1.86%)
- SAIL: BSE ₹155.40 (-1.15%), NSE ₹155.25 (-1.30%)
- Tata Steel: BSE ₹193.55 (-0.87%), NSE ₹193.43 (-1.01%)
- Vedanta: BSE ₹660.95 (-3.90%), NSE ₹656.70 (-4.52%)
- Welspun Corp: BSE ₹816.00 (+0.04%), NSE ₹821.10 (+0.66%)
Broader market indices showed mixed performance:
- NIFTY 50: 25,677.85 (-0.38%)
- S&P BSE SENSEX: 83,635.75 (-0.22%)
Companies with significant silver exposure, such as Hindustan Zinc and Vedanta, recorded steeper declines compared to pure steel or aluminium plays.
Silver Price Movement on February 5, 2026
International spot silver prices fell sharply on February 5, 2026, trading in the range of approximately $75-77 per ounce in some reports, with intraday drops reported up to 15% in volatile conditions. Silver fell around 12-13% on the day in certain benchmarks, following a period of extreme volatility.
Silver had previously reached highs above $120 per ounce in January 2026, supported by industrial demand (e.g., solar and electronics), safe-haven buying, geopolitical factors, and a weaker US dollar at times. The recent correction involved:
- A rebound in the US dollar, influenced by expectations of a hawkish Federal Reserve stance linked to the nomination of Kevin Warsh as Fed chair, reducing prospects for aggressive rate cuts.
- Unwinding of speculative positions and liquidations in futures markets after rapid prior gains.
- Heightened market volatility leading to heavy selling pressure.
This decline in silver contributed to pressure on related metal stocks in India, particularly those tied to precious and base metals.
