Three Metal stocks that are down over 10% in the last four sessions

The Nifty Metal index is on a four-day losing streak, having seen profit booking from elevated levels amidst a strengthening US Dollar in the global markets.

Amidst this fall, three stocks, NALCO, Hindustan Zinc and SAIL, have already seen losses in double-digits during this four-day period. While shares of NALCO are down 11% and are the top losers on the Nifty Metal index during this period, shares of both Hindustan Zinc and SAIL are down 10% each.

Here's a look at these three stocks:

NALCO

The stock is down for the third day running during which it has corrected over 11%. As a result of this fall, the Relative Strength Index (RSI) for the stock is at 38, which means it is nearing "oversold" territory. An RSI reading below 30 means that the stock is "oversold."

The stock has also broken below key levels, including its 100-Day Moving Average, which is at ₹389, and its 50-Day Moving Average, which is at ₹410.

Hindustan Zinc

The stock had declined over 6% on Friday after a Bloomberg report, which stated that the government is looking to sell up to 2% stake in the company through an Offer For Sale (OFS).

CNBC-TV18 has not independently verified the Bloomberg story.

As a result of this fall, Hindustan Zinc has broken below its 100-DMA at ₹603 and its 50-DMA at ₹594. The fall has now dragged the stock towards its 200-DMA support level of ₹548.

The RSI on Hindustan Zinc's charts is also at 31, which means that the stock is almost on the verge of slipping into "oversold" territory.

SAIL

Among the three names in this list, SAIL has fared relatively better at least on the technical front as the stock still remains above its key moving averages despite a 10% fall during this period.

On the downside, the stock's 50-DMA is placed at ₹180 and the 100-DMA is placed at ₹167.

Relative Strength Index (RSI) on the charts remains near levels of 42.

Despite this fall, shares of SAIL are still up 24% so far this year.

Why Are Metal Stocks Falling?

Metal stocks are declining in line with the move seen on the US Dollar Index, which has seen a rebound from sub-98 levels to back at levels of 100.

Rising bond yields are also being detrimental to the equity markets globally. Fears of the Fed hiking rates has taken the US two-year bond yields to their highest level since February 2025, while the 10-year bond yield is back above the 4.5% mark.

A rising US Dollar is generally negative for metals as they are globally priced in that currency and therefore a rising dollar means decreased purchasing power and higher yields mean investors prefer interest yielding instruments instead of commodities like metals, which do not yield any interest.

Despite the four-day correction, the Nifty Metal index remains the best performing sectoral index in 2026 so far, with gains of 17%.