New Delhi, June 23 -- Shares of Hindustan Zinc, a Vedanta Group company, dropped 5% in Tuesday's trade, June 23, falling to an intraday low of Rs.544 apiece, as a sharp decline in global silver prices weighed on investor sentiment.

Spot silver prices slumped 5% to $61.90 per ounce, hitting their lowest level since June 11. In the domestic market, near-month silver futures plunged by Rs.2.25 lakh per kilogram. Silver prices were last seen around these levels in late March.

With today's decline, silver's month-to-date losses widened to 15%, erasing all the gains recorded in May. From its record high of Rs.4,57,328 per kg, the metal has now fallen by nearly Rs.2.30 lakh, or about 50%.

Hindustan Zinc's shares are particularly sensitive to ...