NALCO, Hindustan Copper, Vedanta shares slump up to 19% sink as metal rout deepens; Here’s why

February 1, 2026

Metal stocks tumbled on Budget Sunday as gold, silver and copper prices slumped, dragging Hindustan Copper down 19% and knocking the Nifty Metal index lower. The sell-off followed a sharp correction in commodities triggered by a stronger dollar and market jitters after Donald Trump named Kevin Warsh as his pick for the next US Federal Reserve chair.

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