Volatility in Indian Stocks: MCX and ONGC
Mumbai, Tuesday, 14 October 2025.
MCX and ONGC stocks are fluctuating due to regulatory changes and global oil price shifts, impacting investors and reflecting larger economic trends in India’s commodity and energy sectors.
MCX Stock Volatility
The Multi Commodity Exchange of India Limited (MCX), listed under the ticker symbol MCX:NSE, has recently witnessed significant fluctuations in its stock value. This is partly due to the regulatory changes proposed by India’s Securities and Exchange Board (SEBI), which includes engaging with the government to allow banks and pension funds to trade commodities. Such regulatory shifts can lead to increased market activity and volatility as investors adjust to the new rules [1]. Additionally, the stock’s inclusion in the FTSE All-World Index on October 11, 2025, has heightened interest and trading volume, further contributing to its price swings [1].
Impact of Commodities on MCX
MCX’s performance has also been influenced by commodity prices, particularly precious metals like silver. On October 9, 2025, MCX shares increased by up to 7% as silver futures hit an all-time high of ₹1.56 lakh per kilogram. These price movements in key commodities often have a pronounced effect on the stock prices of exchanges like MCX, which facilitate commodity futures trading [2]. Historical data suggests that October tends to be a positive month for MCX, with average returns of 8.68%, adding another layer of complexity to its current volatility [2].
ONGC and Global Oil Dynamics
The Oil and Natural Gas Corporation Limited (ONGC), trading under the ticker ONGC:NSE, is experiencing its own set of challenges. The company’s stock price is heavily influenced by global oil price dynamics, which have been volatile due to fluctuating geopolitical tensions and trade policies. Recent statements by global leaders, including potential tariffs and trade negotiations, have caused uncertainty in the oil markets, impacting ONGC’s stock value [3].
Broader Economic Implications
The volatility in MCX and ONGC stocks reflects broader economic trends and investor sentiment in India. It underscores the interconnectedness of local markets with global economic conditions. As regulatory and geopolitical factors continue to evolve, investors must remain vigilant. These stock movements are not just isolated incidents but part of a larger narrative about the fragility and dynamism of financial markets today [3].