MCX share price jumps over 4% to record high on UBS target upgrade, strong volume outlook
MCX share price jumped over 4% on Wednesday to hit a fresh 52-week high on robust buying momentum. MCX shares rallied as much as 4.93% to a new high of ₹8,620.00 apiece on the BSE.
The rally in Multi Commodity Exchange of India (MCX) share price followed a target price upgrade by global brokerage UBS, which cited a strong volume outlook and expanding product portfolio as key growth drivers.
Since April, MCX has witnessed healthy trading activity. The average daily value (ADV) of futures has increased by approximately 50% quarter-on-quarter (QoQ), while options premium ADV has risen around 30% QoQ.
“We expect key commodities’ ADV to remain strong amid volatility caused by geopolitical uncertainties” UBS said in a note. “New…
