MCX Share Price Today: Stock surges 5% post this comment by SEBI chief – Details here

Shares of Multi Commodity Exchange of India (MCX) surged over 5 per cent on Wednesday amid reports that the Securities and Exchange Board of India (SEBI) will engage with the government to widen participation in the commodity derivatives market. The counter opened in the green at Rs 7,719.80, with a gain of 0.89 per cent from the previous close of Rs 7,651 on the BSE. However, it surged to hit an intraday high of Rs 8,034.65, representing a gain of 5.01 per cent, amid remarks by SEBI Chairman Tuhin Kanta Pandey.  

Last seen, the scrip held firmly in green and was trading at Rs 7,970 with a gain of 4.17 per cent. On the National Stock Exchange (NSE), the stock touched an intraday high of Rs 8,035 and an intraday low of Rs 7,683. 

Technically, the stock trades higher than the 5-day, 20-day, 100-day and 200-day moving averages but lower than the 50-day moving averages. 

SEBI To Engage With Government

Kanta said the capital markets regulator is also looking at a proposal to allow foreign portfolio investors to trade in non-cash settled, non-agricultural commodity derivative contracts.

“We will also engage with the government to consider banks, insurance companies and pension funds to trade in these (non-cash, non-agricultural) markets,” Pandey said, while speaking at the event organised by MCX.

Pandey also said that the commodity markets have to play an important role in ensuring rare metals security for the country.

MCX Share Price History

According to BSE Analytics, the counter has given a positive return of 325 per cent in five years and 537 per cent in three years. While it has gained 347 per cent in two years, the scrip has given a return of 40 per cent in one year, as against the correction of 0.43 per cent in the benchmark index. 

The 52-week high of the stock is Rs 9,110 and the 52-week low is Rs 4,410.10. The market cap of the company is Rs 40,559.26 crore.