<div id="readability-page-1"><div id="contentdata">   <div><div><ul><li>Nifty Metal index dropped 5% due to profit booking and lower commodity prices.</li><li>Major metal stocks like Hindustan Copper, NALCO, and Vedanta dropped sharply</li><li>Global metal prices declined amid US Fed chair speculation and dollar rebound</li></ul></div></div>    <p>The shares of metal companies tumbled in trade, pushing the Nifty Metal index down nearly 5 percent in the early trading hours of January 30. This comes amid profit booking after a sharp gaining streak, and decline in commodity prices.</p><p>The Nifty Metal index tumbled nearly 5 percent to 11,855.85 on Friday, snapping a three-day gaining streak during which it gained nearly 9 percent.</p><h3><strong>Why are metal stocks falling today?</strong></h3><p>The fall in metal stocks may have been partially driven by profit booking after the rally. Additionally, metal prices significantly declined today. Gold and silver futures dropped around 6 percent each on the MCX, while Copper and aluminium futures with February expiries fell up to 4 percent in the morning trading hours.</p><p>The sharp fall in global metal prices comes amid speculations that the US Federal Reserve may get a more hawkish chair. US President Donald Trump said he intends to announce his pick to replace Fed Chair Jerome Powell on Friday, as speculation intensifies over who will lead the American central bank after Jerome Powell steps aside in May.</p><p>&#34;So, a potentially less dovish Fed Chairman pick, a rebound in the dollar and gold giving way to overbought conditions have contributed to the decline in the price of the precious metal,&#34; Reuters quoted KCM Chief Trade Analyst Tim Waterer as saying.</p><h3><strong>Top metal losers today:</strong></h3><p>Hindustan Copper shares dropped 10.5 percent to trade at Rs 680 apiece. This comes a day after the stock jumped 20 percent to hit a fresh lifetime high of Rs 760.05 apiece. National Aluminium Company (NALCO) shares fell around 10 percent.</p><p>Vedanta shares dropped 8 percent, a day after the company released its results for the October-December quarter of the ongoing financial year 2026. Hindustan Zinc, which is the largest producer of silver in India, saw its share price decline by 7 percent.</p><p>Hindalco Industries and NMDC shares fell around 6 percent each, while Steel Authority of India (SAIL) shares fell nearly 5 percent. Tata Steel, Jindal Steel and Lloyds Metals And Energy shares fell over 4 percent each. JSW Steel and Jindal Stainless shares fell more than 3 percent.</p><p>Follow all LIVE updates from the stock markets here.</p><p><em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em></p></div></div>

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<p>The Nifty Metal index fell nearly 5% on January 30, ending a three-day gaining streak, driven by profit booking and declining commodity prices. Key metal stocks like Hindustan Copper and NALCO dropped up to 10%, with gold and silver futures also falling around 6%. Speculation over a hawkish US Federal Reserve and a stronger dollar contributed to the decline. Major losers included Hindustan Copper (-10.5%), NALCO (-10%), and Vedanta (-8%).</p>

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Hind Copper, NALCO, other metals stocks drop up to 10%; metal index snaps 3-day gaining streak: Here's why