MCX shares jumped 3% in morning trade after global brokerage UBS reaffirmed its bullish view on the company, maintaining a “Buy” rating and raising the target price to ₹10,000 per share from ₹7,000 earlier. As of 9:28 AM, the shares were trading 3.07% higher at Rs 8,468.00.
The sharp revision in price target reflects growing confidence in MCX’s business outlook, supported by strong market trends and upcoming product launches.
UBS highlighted that the volatility in key commodity prices is likely to support higher trading volumes on the exchange. According to the brokerage, this volatility, combined with visible momentum in new product introductions, could drive robust growth in the near term. UBS also noted that MCX has been showing encouraging signs in terms of product rollout speed and clarity, which further strengthens its investment case.
The recent performance also supports this view. In the first quarter, average daily volumes on the exchange remained healthy, with futures trading volumes rising 50% on a quarter-on-quarter basis. Meanwhile, the options premium recorded a 30% increase. This strong operational momentum signals that MCX is well-positioned to benefit from current market conditions.
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