19 Jan , 2026 By : Debdeep Gupta
Hindustan Zinc shares rose as the silver prices surged on Monday to breach the record Rs 3 lakh-per-kg mark in futures trade for the first time, riding on strong investor demand and positive global trends.
Hindustan Zinc shares rise
Shares of Hindustan Zinc touched an intraday high of Rs 662.25, up 3.84 percent.
Silver rises to fresh high
On the Multi Commodity Exchange (MCX), silver futures for March delivery skyrocketed by Rs 13,553, or 4.71 percent, to hit a record of Rs 3,01,315 per kilogram. In the international market, the March silver futures contract jumped by USD 5.81, or 6.56 percent, to hit a record of USD 94.35 per ounce.
Analysts said that upbeat industrial demand and a weak US dollar lent further support to the white metal, which has been outperforming gold in recent sessions.
"On silver, the medium-term narrative remains constructive, supported by persistent physical deficits, resilient industrial demand and safe-haven demand," said Christopher Wong, a strategist at OCBC told Reuters.
"But the pace of the recent extension may warrant some near-term tactical caution," Wong said, noting that the gold-silver ratio declined sharply from highs near 105 in late 2025 to low-50s, signalling silver's outsized performance versus gold.
Silver ETFs rise
Mirroring the sharp rise in silver prices, silver exchange traded funds (ETFs) also jumped. Groww Silver ETF gained more than 4 percent. DSP Silver ETF, Tata Silver ETF, Nippon Silver ETF (silverbees), Zerodha Silver ETF and Edelweiss Silver ETF meanwhile also gained.
UTI Silver ETF, SBI Silver ETF, HDFC Silver ETF, ICICI Pru Silver ETF, Mirae Asset Silver ETF, Aditya Birla Silver ETF, Motilal Oswal Silver ETF, 360 ONE Silver ETF and Kotak Silver ETF gained between 3-5 percent.
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