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MCX share price: Shares of Multi Commodity Exchange (MCX) came under sharp selling pressure on Sunday trade, sliding as much as 14.9 per cent on the BSE to hit the day’s low of Rs 2,146.25 per share.

At around 9:23 am, MCX shares were trading nearly 10 per cent lower at Rs 2,272.5, even as the BSE Sensex was marginally higher by 0.01 per cent at 82,276.15.

The sharp fall in MCX shares comes ahead of the Union Budget 2026, which Finance Minister Nirmala Sitharaman is scheduled to present later today.

Despite the steep intraday correction, MCX shares have delivered strong long-term returns. The stock is up 94 per cent over the past one year and 595 per cent over the last five years.

The selling pressure was not limited to MCX. The Nifty Metal index was down 2.16 per cent at 11,571.65, reflecting continued weakness across metal stocks.

The metal sector has been under negative sentiment since Friday, largely due to a sharp correction in gold and silver prices.

Gold and silver prices fell sharply in early trade.

On MCX:

Gold April futures fell 8.76 per cent, or Rs 13,345, to Rs 1,39,000 per 10 grams

Silver March futures dropped 9 per cent, or Rs 26,273, to Rs 2,65,652 per kg

Precious metals have been on a downward trend since the second half of last week, after hitting record highs.

The sell-off extended to metal producers. Hindustan Zinc, the country’s largest silver miner, hit the lower circuit and was locked at Rs 565.65 on the NSE.

The stock fell 10 per cent at the open, wiping out nearly Rs 63,000 crore in market capitalisation over the last two trading sessions.

Hindustan Zinc has erased 22 per cent of investor wealth in the past five trading days and is down over 10 per cent in the last one month. However, it is still up 32 per cent in the past six months and 26 per cent over the last one year.

Hindalco Industries followed the broader metal sell-off, falling 10 per cent to a day’s low of Rs 866.35. The stock has lost around Rs 25,000 crore in market capitalisation in the last two days.

Gold and silver had seen an exceptional rally in January. Gold surged nearly 28 per cent, only the second such monthly rise in the last 100 years, after January 1980. Silver jumped nearly 70 per cent, marking its strongest monthly performance on record

The sharp reversal in precious metal prices is now weighing heavily on metal stocks and commodity-linked counters.