MCX share price : The easing of tensions between Iran and Israel has accelerated the market’s upward momentum. After a gap-up, Nifty surged nearly 150 points to approach the 25,200 mark. Bank Nifty is also showing strength. Mid-cap and small-cap stocks are gaining ground as well. Meanwhile, the volatility index, INDIA VIX, has slipped over 3%, settling near 13.
The IT and FMCG sectors are witnessing the best gains today, with both indices rising by about 1%. FMCG stocks like Nestlé and Jubilant FoodWorks climbed more than 2%. Buying interest is also visible in the auto, pharma, and metal sectors. On the other hand, profit-taking continues for the second consecutive day in defense stocks.
Riding on bullish brokerage reports, MCX shares have jumped nearly 4%, hitting record highs. UBS has recommended buying this stock and raised its target price to ₹10,000. Additionally, strong buying is observed in BSE, CDSL, and CAMS.
Brokerage Outlook on MCX
Brokerages maintain a bullish stance on MCX. Both HDFC and UBS have assigned BUY ratings to the stock. HDFC has set a target price of ₹9,040, while UBS has raised its target to ₹10,000.
UBS increased the share target from ₹7,000 to ₹10,000, citing robust volume growth driven by volatility in commodities. On a quarterly basis, the average daily volume (ADV) for futures rose 50%, and for options, it increased by 30%. The brokerage also noted that MCX will benefit from the launch of electricity futures and monthly silver options. Earnings growth is expected at a 26% CAGR for FY26-28. EPS estimates for FY27-28 have been revised upward by 13-17%.
The brokerage further stated that the company holds a 98% market share in commodity futures, with limited competition expected from NSE. Commodity penetration remains low, indicating significant growth potential ahead. Support from regulatory bodies, the market, and the industry is also likely. There is growing momentum in launching new products. Fluctuations in commodity prices could drive higher volumes. Overall market conditions and new product launches are expected to be beneficial. EPS estimates for FY27-28 have been raised by 13-17%.
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
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