MCX iCOMDEX volatile in early trade as West Asia situation aggravates
This story was originally published at 11:25 IST on 8 June 2026
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MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India opened higher Monday but declined soon after opening as bullion and base metal indices began trading lower from the previous day's close. However, energy index rose significantly.
The war situation in West Asia seemed aggravating over the weekend with Iran firing missiles towards Israel, dashing hopes for an end to the conflict, market sources said. This raises the inflationary expectations as supply chains remain disrupted, and increases the possibility of a hike in interest rates, sources said.
The Composite index opened at 24946.54 points, up from 24885.50 at the previous close. However, at 1056 IST, it traded 0.45% down at 24772.78 points. The bullion index was down 1.33%, with gold down 1.08% and silver down 2.02%.
The base metal index was down 0.47%, with aluminium, copper and zinc trading lower in the range of 0.42% to 0.90%. Lead was trading 0.05% higher.
Energy was the only index which traded higher, by 4.16%. The main contributor to the rise was crude oil which was trading 4.66% higher, while natural gas was trading down 1.59%.
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 Akul Nishant Akhoury
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