MCX, Hindustan Zinc shares jump up to 7% as silver futures top Rs 1.56 lakh per kg

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26 Aug, 2025 12:21

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The shares of Multi Commodity Exchange (MCX) and Hindustan Zinc jumped in trade on October 9, tracking the optimism around silver's recent bull run. Domestic prices of silver continued to extend rally, while futures fell on profit booking at elevated levels.

MCX shares jumped nearly 7 percent to trade at Rs 8,748.50 apiece, emerging as one of the top gainers on the Nifty Capital Markets index, which was up more than 2 percent. Hindustan Zinc, which is the largest producer of silver in India, meanwhile saw its shares jump nearly 5 percent on Thursday.

Silver prices:

Silver prices saw some volatility on October 9 as investors may have resorted to profit booking at elevated levels. While domestic prices increased, silver futures dropped in trade. Silver futures with December expiry on the Multi Commodity Exchange (MCX) dropped more than 0.6 percent to Rs 1,48,945 per kilogram, as seen at 1.30 pm. This comes a day after the contracts hit fresh all time highs.

Silver futures with March and May expiry were also down around 0.5 percent and 0.4 percent respectively. The contracts with July and September expiry however gained up to 1 percent to hit fresh lifetime highs of Rs 1,55,546 per kg and Rs 1,56,793 per kg respectively.

What analysts say?

"We believe strong investment demand, large silver supply deficit and Fed cuts may continue to support silver prices over the medium to long term for a three to five-year horizon. Silver may outperform gold in the medium term with favorable gold/silver ratio, recovery in developed economies, strong industrial demand especially from China, and global supply deficit projections," reads Tata Mutual Fund Silver Outlook (October 2025) report.

"Rising investment and industrial demand along with recovery expectations in China is positively influencing silver price," it explained.

Stock price history:

MCX shares have gained nearly 9 percent in the past five days, and over 14 percent in the past one month. The stock has rallied nearly 67 percent in the past six months.

Hindustan Zinc shares meanwhile gained nearly 6 percent in the past five days, and over 17 percent in the past one month. The stock jumped 27 percent in the past six months, and is up over 14 percent in 2025 so far. The Vedanta Group company’s P/E ratio currently stands at around 20.

Also read: Our LIVE blog on stock market updates

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