Trading Activity and Price Movement
On 5 February 2026, MCX recorded a total traded volume of 10,09,980 shares, translating to a substantial traded value of ₹24,716.43 lakhs. The stock opened lower at ₹2,475.0, down 2.69% from the previous close of ₹2,543.3, and touched an intraday low of ₹2,417.2, marking a 4.96% drop. The last traded price (LTP) stood at ₹2,431.3 as of 09:45 IST, reflecting a 4.37% decline on the day.
Despite the negative price action, MCX’s trading activity remains among the highest by value in the capital markets sector, underscoring strong investor interest. The stock underperformed its sector by 3.21% and the broader Sensex by 3.90% on the day, signalling sector-wide pressures amid broader market volatility.
Technical and Trend Analysis
MCX’s price currently trades above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term bullish trend despite the recent pullback. The stock had enjoyed three consecutive days of gains prior to today’s reversal, suggesting profit-booking or short-term correction after a strong rally.
However, investor participation appears to be waning, with delivery volumes on 4 February falling sharply by 60.18% compared to the five-day average, down to 14.23 lakh shares. This decline in delivery volume may indicate reduced conviction among long-term holders or a shift in trading strategies towards short-term positions.
Institutional Interest and Liquidity
MCX’s liquidity remains robust, with the stock’s average traded value supporting trade sizes up to ₹50.96 crore based on 2% of the five-day average traded value. This level of liquidity is attractive for institutional investors and large order flows, facilitating efficient execution without significant market impact.
The company’s market capitalisation stands at ₹61,799.82 crore, placing it firmly in the mid-cap category. Despite the recent price decline, MarketsMOJO has upgraded MCX’s mojo grade from Buy to Strong Buy as of 18 November 2025, reflecting improved fundamentals and positive outlook within the capital markets sector.
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Fundamental Strength and Market Position
MCX operates in the capital markets industry, providing a platform for commodity derivatives trading. Its strategic importance in India’s financial ecosystem is underscored by its consistent market share and technological infrastructure. The company’s mojo score of 82.0, coupled with a strong buy grade, reflects solid financial health, growth prospects, and favourable risk-reward metrics.
While the market cap grade of 2 indicates a mid-cap status, MCX’s operational metrics and sector positioning suggest potential for upward re-rating as commodity markets evolve and regulatory frameworks stabilise.
Comparative Sector and Market Performance
On the day of analysis, MCX’s 1-day return of -4.71% lagged behind the capital markets sector’s decline of -0.83% and the Sensex’s modest fall of -0.47%. This relative underperformance may be attributed to profit-taking or sector-specific headwinds such as regulatory scrutiny or commodity price fluctuations.
Nonetheless, the stock’s resilience above key moving averages and strong mojo grade suggest that the recent dip could present a tactical buying opportunity for investors with a medium to long-term horizon.
Outlook and Investor Considerations
Investors should weigh the recent price correction against MCX’s robust trading volumes and institutional interest. The sharp fall in delivery volumes signals caution, but the stock’s liquidity and market cap provide a solid foundation for sustained trading activity.
Given the upgrade to a strong buy rating and the company’s strategic role in India’s commodity markets, MCX remains a compelling candidate for portfolios seeking exposure to capital markets infrastructure with growth potential.
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Institutional Flows and Market Sentiment
Large order flows and institutional participation remain key drivers for MCX’s price action. The stock’s ability to sustain high-value trading volumes despite intraday volatility indicates continued confidence among mutual funds, insurance companies, and foreign portfolio investors.
Market participants should monitor delivery volumes and price momentum closely, as these metrics often presage shifts in market sentiment. The recent decline in delivery volume may reflect short-term profit-taking rather than a fundamental change in outlook.
Conclusion
Multi Commodity Exchange of India Ltd continues to command significant attention in the capital markets space, supported by strong mojo scores and institutional backing. While the stock experienced a notable pullback on 5 February 2026, its underlying fundamentals, liquidity profile, and technical positioning remain intact.
Investors with a medium to long-term perspective may find the current valuation levels attractive, especially given the company’s upgraded strong buy rating and strategic importance in India’s commodity derivatives market.
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