MCX, the Multi-Commodity Exchange of India Ltd, is the country's first listed exchange. It has earned the tag of being a 'state-of-the-art' exchange that facilitates online trading of commodity derivatives transactions. This allows MCX to provide a platform for price discovery and risk management. MCX started operations way back in November 2003, under the relevant regulatory framework of market regulator Securities and Exchange Board of India (SEBI). The exchange provides a platform for trading in commodity derivative contracts in various segments including agricultural commodities, bullion, energy, and industrial metals. A note on MCX's official website states that it is India’s first exchange to offer commodity options contracts, bullion index futures and base metals index futures contracts. MCX focuses largely on providing commodity value chain participants with transparent, neutral and secure trade mechanisms, along with formulating quality parameters and trade regulations. It has a vast national reach of 597 registered members and as high as 49,999 authorised persons. The exchange had a presence in around 1,103 cities and towns across India as on December 31, 2021. According to MCX, it is the country’s leading commodity derivatives exchange with a market share of 92.9 percent in terms of the value of commodity futures contracts traded in the financial year 2021-22 (Apr-Dec). More
Motilal Oswal recommended Neutral rating on MCX with a target price of Rs 1450 in its research report dated March 16, 2023.
Motilal Oswal recommended Neutral rating on MCX with a target price of Rs 1450 in its research report dated February 06, 2023.
Its net profit stood at Rs 34.46 crore during the same quarter of the previous fiscal, according to a regulatory filing.
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Frontline shares make a strong comeback, but is the market out of the woods yet? Santosh Nair and Yatin Mota discuss. Stocks in focus are L&T technology Services, MCX, Tata Motors and Gujarat Gas
The decision is expected to be a welcome news for India’s leading commodity exchange, MCX, as the circular comes into effect immediately. Currently, barring gold, silver and precious metals, all other commodities have a single contract, which limits investors' and traders' participation.
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The development of spot trading software has been deemed an 'unrelated activity' by the Adjudicating Officer’s order dated January 4. MCX has also been penalised for deploying funds to the said firm without the approval of the Board of the market regulator
Mumbai, Dec 30 A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in..
In the meantime, the matter has reached Madras High Court with an investors group seeking a detailed probe by Sebi (Securities and Exchange Board of India) into the exchange with regard to the "integrity and competence of the market software technology" to be adopted by MCX.
Auto sector has been among the best performers of 2022 so far but November sales data so far has got CJ worried that the best of the rally may be over. Santo dismisses those concerns pointing to improving economic prospects and stable pricing. Watch as the duo discuss the outlook for the auto stocks plus their thoughts on MCX, ONGC and Oberoi Realty.
Manoj Kumar Jain of Prithvi Finmart Commodity Research expects gold and silver to remain volatile this week ahead of the US quarterly GDP data and ADP non-farm employment data and continue to hold their respective support levels.
The immediate resistance zone is seen around the Rs 52500 level. Breakout and sustained buying above the mentioned level may push prices higher toward the Rs 53000 level. On the other hand, breakdown below Rs 52300 may drag prices lower toward the Rs 52000 level by this week, said Deveya Gaglani of Axis Securities.
The stage looks well set for a potential rally in the medium to long run, as plateauing inflation, weaker US dollar and stalling bond yields could act as the catalyst of the next bull run in gold prices. So, we maintain a buy on dips strategy, said Pritam Patnaik of Axis Securities.
Bharat Forge has reported strong earnings for the September quarter leading Santo to feel bullish for the stock's prospects, but CJ sees risks ahead. Watch as the duo clash horns over the auto-cum-defence player plus their thoughts on IRCTC, MCX and Havells India.
Motilal Oswal is bullish on MCX recommended buy rating on the stock with a target price of Rs 1800 in its research report dated October 26, 2022.
ICICI Securities, while maintaining its ‘buy’ stance, said growth in options, stable futures volumes and reduction in software cost post migration to new platform set up good prospects for FY24.
Motilal Oswal is bullish on MCX recommended buy rating on the stock with a target price of Rs 1600 in its research report dated August 01, 2022.
Sebi has already allowed institutional investors such as Category III alternative investment funds, portfolio management services and mutual funds to participate in Exchange Traded Commodity Derivatives
Gold has support at Rs 50,740–50,510, resistance at Rs 51,180–51,350. Silver has support at Rs 61,080-61,550 and resistance is at Rs 62,680–63,110, said Rahul Kalantri, VP Commodities at Mehta Equities.
Unless we bring down the cost of trading, traders would use loopholes to exploit the situation
Motilal Oswal is bullish on MCX recommended buy rating on the stock with a target price of Rs 1500 in its research report date May 17, 2022.
"We expect gold to hold Rs 51,850 levels and silver could hold Rs 65,800 levels on a closing basis in today's session. Weakness in rupee could support prices in the domestic markets," said Manoj Kumar Jain of Prithvi Finmart Commodity Research.
Gold as a safe haven are attractive due to soaring inflation and uncertainty in the Russian-Ukraine war. As long as the two factors continue to dominate markets for sentiment - a scenario for a further uptrend in gold price remains intact. It is a good opportunity to go long on every dips, said Ravi Singh - Vice President and Head of Research - ShareIndia.
Traders and investors continue to assess three major factors— the Russia-Ukraine war, new COVID lockdowns in China and rising global inflation—that are impacting the market