Hindustan Zinc Shares: The dimming of silver also affected the shares of Hindustan Zinc and today it slipped by more than 3%. The fall in silver also weakened its ETF (exchange traded fund). Talking about Hindustan Zinc, the slippage of silver had an impact on its shares because it is the largest producer of silver in the country which produces refined silver of 99.9% purity. Currently on BSE it is down by 2.33% at ₹580.15. It fell 3.21% to ₹574.95 intra-day.
Their ETFs also boomed along with gold and silver.
Silver futures with March expiry on MCX fell by nearly 2% to ₹2,35,142 per kg. The contract with May expiry slipped about 2%. Now talking about gold, gold futures with April expiry fell by about 1% to ₹ 1,53,522 per 10 grams. Gold with June expiry also slipped by about 1% during this period.
Talking about silver ETFs, the biggest decline was in Edelweiss Silver ETF, which fell by about 2%, followed by ICICI Prudential Silver ETF, Bandhan Silver ETF, Motilal Oswal Silver ETF, HDFC Silver ETF, UTI Silver ETF, DSP Silver ETF, Nippon India Silver ETF (Silverbees), Zerodha Silver ETF and others. Declined more than 1%. Talking about gold ETFs, Baroda BNP Paribas Gold ETF fell by more than 3.5%, Invesco India Gold ETF and Birla Sun Life Gold ETF fell by about 2%. At the same time, many other gold ETFs including Bandhan Bank Gold ETF, ICICI Prudential Gold ETF, Edelweiss Gold ETF, DSP Gold ETF, SBI Gold ETF, Grove Gold ETF, Mirae Asset Gold ETF and others fell by more than 1%.
(This story is currently being expanded)