Opening Price Surge and Intraday Performance
On the morning of 3 Feb 2026, Hindustan Zinc Ltd opened at a price reflecting a 3.9% gain compared to the previous close, marking a notable gap up. This strong start was accompanied by an intraday high of Rs 639.4, representing a 4.9% increase on the day. The stock’s performance outpaced the Non-Ferrous Metals sector, which itself gained 3.35%, and the Sensex index, which rose by 2.68% on the same day.
The gap up opening price indicates that overnight developments or market factors positively influenced investor valuation, leading to a higher demand at the market open. The stock’s ability to sustain momentum beyond the opening bell, reaching near 5% gains intraday, suggests that the initial enthusiasm was supported by continued buying interest during trading hours.
Recent Performance and Trend Analysis
Hindustan Zinc Ltd has demonstrated consistent gains over the last two trading sessions, accumulating an 11.26% return during this period. This streak of consecutive gains highlights a sustained positive trend rather than a one-off spike. Over the past month, the stock has recorded a modest 0.78% increase, outperforming the Sensex’s decline of 2.22% in the same timeframe.
From a technical perspective, the stock trades above its 50-day, 100-day, and 200-day moving averages, signalling a long-term bullish trend. However, it remains below its 5-day and 20-day moving averages, indicating some short-term consolidation or resistance. The daily moving averages are classified as bullish, reinforcing the positive momentum observed in recent sessions.
Technical Indicators and Market Sentiment
Technical indicators provide a mixed yet predominantly positive outlook. The Moving Average Convergence Divergence (MACD) is bullish on both weekly and monthly charts, suggesting upward momentum over medium and longer terms. Bollinger Bands also show mild bullishness on weekly and monthly timeframes, indicating moderate volatility with an upward bias.
Other indicators such as the Relative Strength Index (RSI) show no significant signal on weekly and monthly charts, implying the stock is neither overbought nor oversold. The Know Sure Thing (KST) indicator is bullish weekly but mildly bearish monthly, while Dow Theory assessments are mildly bearish weekly and mildly bullish monthly, reflecting some short-term caution amid longer-term optimism.
On-Balance Volume (OBV) is bullish on a weekly basis, indicating that volume trends support price increases. The stock’s beta of 1.30 relative to the Sensex classifies it as a high beta stock, meaning it tends to experience larger price swings than the broader market, which aligns with the observed volatility and gap up behaviour.
Fundamentals that don't lie! This Small Cap from Trading shows consistent growth and price strength over time. A reliable pick you can truly count on.
- - Strong fundamental track record
- - Consistent growth trajectory
- - Reliable price strength
Sector and Market Context
The Non-Ferrous Metals sector, to which Hindustan Zinc Ltd belongs, has shown robust performance with a 3.35% gain on the day of the gap up. This sectoral strength likely contributed to the stock’s positive opening, as investors favour companies within a rising industry environment.
Hindustan Zinc Ltd’s market capitalisation grade stands at 1, reflecting its status as a large-cap entity within the sector. The company’s Mojo Score is 64.0, with a current Mojo Grade of Hold, which was downgraded from Buy on 1 Feb 2026. This adjustment suggests a more cautious stance despite the recent price strength, possibly reflecting valuation considerations or broader market factors.
Gap Up Implications and Price Movement
The 3.9% gap up opening price is a significant indicator of overnight positive catalysts, which may include favourable news flow, improved sector dynamics, or broader market optimism. The stock’s ability to maintain gains above the opening level and reach an intraday high of 4.9% suggests that the gap up was not immediately filled, a common occurrence when gaps are driven by strong fundamentals or sentiment.
However, the fact that the stock remains below its short-term moving averages indicates some resistance that could limit further immediate upside. This technical nuance suggests that while the gap up reflects strong buying interest, some consolidation or profit-taking may occur as the stock approaches these moving average levels.
Considering Hindustan Zinc Ltd? Wait! SwitchER has found potentially better options in Non - Ferrous Metals and beyond. Compare this large-cap with top-rated alternatives now!
- - Better options discovered
- - Non - Ferrous Metals + beyond scope
- - Top-rated alternatives ready
Summary of Market Behaviour and Outlook
Hindustan Zinc Ltd’s gap up opening on 3 Feb 2026 reflects a strong start supported by positive sector trends and technical momentum. The stock’s outperformance relative to the Sensex and its sector peers underscores its current market strength. While short-term moving averages present some resistance, the overall technical and volume indicators suggest that the stock is in a bullish phase on daily and weekly timeframes.
The high beta nature of the stock means it is more sensitive to market swings, which can amplify both gains and corrections. Investors observing the price action should note the balance between sustained momentum and potential short-term consolidation as the stock navigates key technical levels.
Company and Market Metrics at a Glance
Hindustan Zinc Ltd operates within the Non-Ferrous Metals industry and sector, with a market cap grade of 1. The Mojo Score of 64.0 and a Hold grade reflect a moderate stance on the stock’s valuation and performance. The recent downgrade from Buy to Hold on 1 Feb 2026 indicates a reassessment of the stock’s near-term prospects despite the current positive price action.
The stock’s 1-day gain of 3.93% surpasses the Sensex’s 2.68% rise, while its 1-month return of 0.78% contrasts favourably with the Sensex’s decline of 2.22%. These metrics highlight the stock’s relative strength amid broader market fluctuations.
Technical Summary
Key technical indicators include:
- MACD: Bullish on weekly and monthly charts
- RSI: Neutral on weekly and monthly charts
- Bollinger Bands: Mildly bullish weekly and monthly
- Moving Averages: Daily bullish, trading above 50, 100, 200-day averages but below 5 and 20-day averages
- KST: Weekly bullish, monthly mildly bearish
- Dow Theory: Weekly mildly bearish, monthly mildly bullish
- OBV: Weekly bullish, monthly no clear trend
These mixed signals suggest a predominantly positive technical environment with some caution warranted in the short term.
Conclusion
Hindustan Zinc Ltd’s significant gap up opening on 3 Feb 2026 is supported by strong sector performance, positive technical indicators, and sustained momentum over recent sessions. The stock’s ability to maintain gains above the opening price and outperform the broader market highlights its current strength. While short-term resistance from moving averages may temper immediate upside, the overall market behaviour points to a robust trading environment for the stock.
Unlock special upgrade rates for a limited period. Start Saving Now →
