Key Events This Week
23 Feb: Stock opened at Rs.2,397.60 with marginal gains despite Sensex rally
25 Feb: Sharp 2.23% price jump on heavy volume and delivery uptick
26 Feb: High-value trading amid mixed signals and heavy put option activity
27 Feb: Robust trading continues despite minor price dip; stock outperforms Sensex
23 February 2026: Modest Start Amid Market Rally
MCX began the week at Rs.2,397.60, registering a slight increase of 0.05% despite the Sensex gaining 0.39% to close at 36,817.86. The stock’s volume was moderate at 1,38,978 shares, reflecting cautious investor positioning. This day set a steady tone for the week, with MCX maintaining price stability while the broader market showed strength.
24 February 2026: Minor Decline in a Weak Market
The stock slipped 0.07% to Rs.2,395.95 as the Sensex corrected sharply by 0.78% to 36,530.09. Volume declined to 1,19,464 shares, indicating reduced trading activity. MCX’s slight underperformance aligned with the broader market weakness, signalling some profit-taking or consolidation after the previous day’s stability.
25 February 2026: Strong Rally on Heavy Volume and Delivery Uptick
MCX surged 2.23% to Rs.2,449.40, outperforming the Sensex which rose 0.41%. The stock’s volume more than doubled to 2,60,876 shares, accompanied by a significant 18.39% increase in delivery volume to 12.68 lakh shares. This surge indicated growing investor conviction and accumulation, supporting the price rally. The strong buying interest suggested renewed confidence in MCX’s fundamentals and market positioning.
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26 February 2026: High-Value Trading Amid Mixed Signals and Put Option Surge
MCX was among the most actively traded stocks by value, with a turnover of nearly ₹199.59 crores on a volume of 8.29 lakh shares. Despite this liquidity, the stock closed at Rs.2,457.90, up 0.35%, underperforming its sector and the Sensex. Intraday volatility was notable, with the stock touching a low of Rs.2,377.5, down 2.93% intraday before recovering.
Simultaneously, MCX saw heavy put option activity, with 1,468 contracts traded at the ₹2,400 strike for the 30 March expiry, reflecting increased bearish sentiment or hedging. The open interest at this strike was 1,353 contracts, signalling sustained positioning. This derivatives market behaviour contrasted with the stock’s fundamental strength, as MCX maintained a Mojo Score of 82.0 and a Strong Buy rating.
Technically, the stock traded above its 5-day, 50-day, 100-day, and 200-day moving averages but below the 20-day average, indicating short-term caution amid a longer-term uptrend. Delivery volumes remained elevated, supporting medium-term investor confidence despite the day’s price volatility.
27 February 2026: Robust Trading and Relative Outperformance Amid Market Volatility
On the final trading day of the week, MCX recorded a traded volume of 5,37,736 shares with a value of ₹132.63 crores. The stock closed at Rs.2,444.35, down 0.55% intraday but still outperforming the Sensex which fell 1.16%. The capital markets sector declined 1.15%, highlighting MCX’s relative resilience.
Delivery volumes dipped 6.77% compared to the five-day average, suggesting a slight moderation in long-term accumulation. However, the stock remained above all key moving averages, signalling sustained technical strength. The Mojo Grade of Strong Buy and a market capitalisation near ₹62,800 crores reinforced MCX’s position as a mid-cap leader in the commodity exchange space.
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Daily Price Comparison: MCX vs Sensex (23–27 February 2026)
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-23 | Rs.2,397.60 | +0.05% | 36,817.86 | +0.39% |
| 2026-02-24 | Rs.2,395.95 | -0.07% | 36,530.09 | -0.78% |
| 2026-02-25 | Rs.2,449.40 | +2.23% | 36,679.75 | +0.41% |
| 2026-02-26 | Rs.2,457.90 | +0.35% | 36,748.49 | +0.19% |
| 2026-02-27 | Rs.2,444.35 | -0.55% | 36,322.56 | -1.16% |
Key Takeaways
Positive Signals: MCX demonstrated strong institutional interest and liquidity throughout the week, with delivery volumes peaking on 25 February at 12.68 lakh shares, an 18.39% increase over the five-day average. The stock maintained its position above key moving averages (5-day, 50-day, 100-day, 200-day), supporting a sustained long-term uptrend. The Mojo Score upgrade to 82.0 and Strong Buy rating reflect improved fundamentals and market confidence.
Cautionary Signals: Heavy put option activity at the ₹2,400 strike for the 30 March expiry indicates increased hedging and bearish sentiment, signalling potential near-term volatility. The stock’s dip below the 20-day moving average on 26 February suggests short-term technical weakness. Delivery volumes showed a slight decline on 27 February, which may warrant monitoring for changes in long-term investor conviction.
Conclusion
Multi Commodity Exchange of India Ltd closed the week with a solid 2.00% gain, outperforming the Sensex’s 0.96% decline. The stock’s performance was supported by robust trading volumes, strong institutional participation, and a favourable technical setup. However, the surge in put option activity and short-term price volatility highlight a cautious market environment. Investors should balance the stock’s strong fundamentals and upgraded rating against the potential for near-term fluctuations, keeping a close watch on key technical levels and expiry dynamics. Overall, MCX remains a significant player in the capital markets sector with a resilient profile amid mixed market conditions.
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