Silver-linked exchange-traded funds (ETFs) witnessed steep losses of 25–29% in today’s session, tracking a sharp collapse in silver prices in both domestic and global markets. The sell-off came amid heavy profit booking, margin pressures, and heightened volatility around Budget Day trading.
On the NSE, Aditya BSL Silver ETF fell 28.30% to Rs 263.22, while Nippon India Silver ETF (SilverBeES) dropped 28.25% to Rs 252.50. ICICI Prudential Silver ETF declined 28.22% to Rs 263.63, and Zerodha Silver ETF (Silvercase) plunged the most, down 29.10% to Rs 26.80.
The sharp ETF correction mirrored the collapse in underlying silver prices. On global markets, the COMEX silver continuous contract slipped over 25% to around $85 per ounce, while MCX silver futures hit lower circuits earlier in the session.
Market participants attributed the crash to aggressive unwinding after a sharp rally, elevated margin requirements on MCX, blocked funds due to Budget Day settlement norms, and risk-off sentiment across commodities. With liquidity constrained and volatility spiking, leveraged positions were forced to exit, intensifying the fall across silver and silver-backed ETFs.
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