MCX Shares Plunge 15% as Market Opens, Gold & Silver Crash Amid Budget Uncertainty
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Moneycontrol•01-02-2026, 10:52
MCX Shares Plunge 15% as Market Opens, Gold & Silver Crash Amid Budget Uncertainty
- •MCX shares plummeted 14.9% on BSE and over 15% on NSE, hitting a day's low of Rs 2,146.25, despite Sensex and Nifty trading in green.
- •The stock market was open on Sunday, February 1, due to the Union Budget presentation by Finance Minister Nirmala Sitharaman.
- •Gold and silver prices on MCX also crashed by approximately 9% each, hitting lower circuit limits for the second consecutive day.
- •Reasons for the MCX share fall include sharp profit-booking after a 101% rally in the last year, broad weakness in the commodity market, and global cues.
- •Changes in MCX margin rules, including increased margin requirements for gold (20%) and silver (25%), and a ₹400 crore per member cap, also contributed to investor caution.
Why It Matters: MCX shares crashed due to profit-booking, commodity market weakness, global cues, and new margin rules.
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