Intraday Price Movement and Immediate Pressures
On the trading day, Hindustan Zinc Ltd opened with a gap down of 8.4%, signalling immediate bearish sentiment among market participants. The stock continued to slide, reaching an intraday low of Rs 546.25, representing a 13.14% drop from its previous close. This decline was sharper than the overall Non-Ferrous Metals sector, which itself fell by 8.26% during the day. Despite this, Hindustan Zinc marginally outperformed its sector by 1.4% in relative terms, indicating that the sector-wide pressures were a significant factor in the stock’s movement.
The stock’s day change stood at -8.13%, reflecting a notable intraday correction. This movement extended a recent downward trend, as Hindustan Zinc has now recorded losses for two consecutive trading days, accumulating a decline of 19.17% over this period. The persistent selling pressure suggests that short-term sentiment remains cautious.
Technical Positioning and Moving Averages
From a technical perspective, Hindustan Zinc’s current price remains above its 100-day and 200-day moving averages, which often serve as long-term support levels. However, it is trading below its shorter-term moving averages — specifically the 5-day, 20-day, and 50-day averages — indicating recent weakness and a potential short-term downtrend. This divergence between short- and long-term moving averages highlights the stock’s current struggle to regain momentum amid prevailing market conditions.
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Market Context and Sector Dynamics
While Hindustan Zinc faced downward pressure, the broader market environment showed mixed signals. The Sensex opened 119.19 points higher and was trading at 82,449.75, up 0.22% on the day. The index remains approximately 4.5% below its 52-week high of 86,159.02. Notably, the Sensex is trading below its 50-day moving average, although the 50-day average itself is positioned above the 200-day moving average, suggesting a cautiously positive medium-term trend.
The market leadership was driven by mega-cap stocks, which supported the modest gains in the Sensex. However, the Non-Ferrous Metals sector, to which Hindustan Zinc belongs, experienced a decline of 8.26%, reflecting sector-specific headwinds that weighed on the stock’s performance. This sectoral weakness contributed to the stock’s sharper fall relative to the broader market.
Performance Trends Over Various Timeframes
Examining Hindustan Zinc’s performance over multiple periods reveals a mixed picture. The stock’s one-day return was -8.61%, contrasting with the Sensex’s positive 0.22% gain. Over the past week, the stock declined by 17.76%, while the Sensex rose by 1.12%. The one-month return was down 8.08%, compared to the Sensex’s 2.63% loss. Despite recent weakness, the stock has delivered strong longer-term returns, with a three-month gain of 20.32% versus the Sensex’s 2.32% loss, and a one-year return of 30.33% compared to the Sensex’s 7.41% rise.
Year-to-date, Hindustan Zinc has declined 6.14%, slightly underperforming the Sensex’s 3.25% loss. Over three, five, and ten-year horizons, the stock has outperformed the benchmark significantly, with returns of 74.07%, 109.48%, and 257.73% respectively, compared to the Sensex’s 38.57%, 78.13%, and 231.51% gains. These figures underscore the stock’s historical resilience despite short-term fluctuations.
Mojo Score and Rating Update
Hindustan Zinc currently holds a Mojo Score of 71.0, reflecting a positive assessment of its fundamentals and market standing. The company’s Mojo Grade was upgraded from Hold to Buy on 9 Oct 2025, signalling improved confidence in its medium-term prospects. The stock’s Market Cap Grade is rated 1, indicating its status as a large-cap entity within the Non-Ferrous Metals sector.
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Summary of Current Market Sentiment
The intraday decline in Hindustan Zinc Ltd reflects a combination of sectoral weakness and short-term technical pressures. Despite the broader market’s modest gains led by mega-cap stocks, the Non-Ferrous Metals sector’s downturn has exerted downward momentum on the stock. The gap down opening and subsequent intraday low highlight cautious sentiment among traders, with the stock’s position below key short-term moving averages reinforcing this view.
While the stock’s longer-term performance remains robust relative to the Sensex, the immediate price action suggests that investors are responding to prevailing market conditions with increased prudence. The recent downgrade in short-term momentum contrasts with the company’s upgraded Mojo Grade and solid fundamentals, indicating a divergence between technical factors and fundamental outlooks at present.
Conclusion
Hindustan Zinc Ltd’s intraday low of Rs 546.25 on 1 Feb 2026 marks a significant price correction amid sectoral and market pressures. The stock’s decline extends a short-term negative trend despite its strong historical returns and upgraded rating. Market participants will likely monitor the stock’s ability to hold above its long-term moving averages as a key indicator of stabilisation in the near term.
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