MCX iCOMDEX Composite index rises on strength in energy, base metal rates
This story was originally published at 10:39 IST on 11 May 2026
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MUMBAI – The Multi Commodity Exchange of India's iCOMDEX Composite index was trading higher after opening flat on Monday, supported by base metal and energy indices, although bullion was trading lower.
At 0948 IST, the Composite index was trading at 25339.51 points after opening flat at 25151.26 points.
The bullion index, a component of the Composite index, was trading 0.27% down as gold prices fell on rising uncertainties surrounding the US-Iran war. Both sides were proposing newer drafts for an agreement that could end the hostilities, even as they kept rejecting each other's proposals. Silver, however, was trading higher.
The main concern among gold buyers was the possibility that the Strait of Hormuz could again close down, raising the prices of crude oil that could push up inflation. A rise in inflation could lead to higher interest rates, and thus reduce the attractiveness of investment in the non-interest bearing yellow metal.
On the MCX, the base metal index was up 0.69% from its previous close, with all the sub-indices trading higher. Aluminium and copper were higher by 0.87% and 0.95% respectively, while lead and zinc were up 0.25% and 0.33% respectively.
The energy index was trading up 5.04% as crude oil was 5.28% higher and natural gas was 2.20% higher.
The MCX iCOMDEX comprises a series of real-time commodity futures price indices and tracks the performance of a basket of commodity futures. It serves as a benchmark for market movements in bullion, base metals, and energy. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Abhijit Doshi
Edited by Vandana Hingorani
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