Hindustan Zinc shares drop 5% amid slump in global silver prices

Hindustan Zinc shares fell 5% to an intraday low of ₹544 after spot silver prices slumped 5% to $61.90 per ounce, their lowest level since June 11. The stock has lost 14% so far in June amid silver's 15% month-to-date decline, Enforcement Directorate visits to Vedanta offices over a FEMA-related investigation, and reports that the government is considering selling up to a 2% stake. Additional pressure stems from rising US Federal Reserve rate hike expectations, with traders now pricing in an 88% probability of a December hike.