Vedanta, Hindalco, Hindustan Copper, HZL: Metal stocks buzzing in trade today; here's why

Metals stocks such as Vedanta, Hindalco, Hindustan Copper and Hindustan Zinc are in a bullish momentum, reaching fresh highs amid a rally in the broader market today. While, Vedanta hit a record high for the seventh straight session, aluminium major Hindalco hit a record peak, rising 2% in early deals. 

On similar lines, Hindustan Copper shares rose to a 52 week high of Rs 405.85 and Hindustan Zinc shares hit a fresh 52 week high today, led by a sharp surge in silver prices. 

The BSE metal index too zoomed 579 points to a high of 35,422. Nifty metal index rose 178 pts to 10,699 in early deals today. 

Here's a look at how these four metal stocks fared in early deals today. 

Vedanta 

Shares of metal and mining major Vedanta hit a record high for the seventh straight session on Monday, rising 1.65% in early deals. During its latest bull phase, the stock hit a record high of Rs 591.50 on Monday. Market cap of the firm rose to Rs 2.31 lakh crore. The trend for the metal firm is also bullish as its shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Hindalco

Shares of aluminium major Hindalco hit a record high on Monday, rising 2% in early deals. The stock hit a peak of Rs 869.90 on Monday. Market cap of the firm rose to Rs 1.94 lakh crore. The trend for the metal firm is also bullish as its shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Hindustan Copper

Hindustan Copper shares rose over 3% to a 52 week high of Rs 405.85 in early deals on Monday. Market cap of the firm rose to Rs 38,424 crore. The trend for the metal firm is also bullish as its shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages

Hindustan Zinc

On similar lines, Hindustan Zinc shares hit a fresh 52 week high today, led by a sharp surge in silver prices. Silver futures reached their lifetime high of Rs 2,14534 per kg on MCX in the current session. The stock hit a high of Rs 606.65 today against the previous close of Rs 588.90. Market cap of the firm rose to Rs 2.54 lakh crore. Hindustan Zinc is India's largest silver manufacturer and stands to benefit from the strong rally in the metal. The subsidiary of Vedanta is known for processing refined silver with a minimum 99.9 per cent purity.