Trading Activity and Price Performance
On 9 February 2026, MCX recorded a total traded volume of 6,05,530 shares, translating into a substantial traded value of ₹146.98 crores. This level of turnover places MCX among the top equity stocks by value traded on the day, underscoring its liquidity and appeal to large investors. The stock opened at ₹2,430, representing a gap-up of 2.08% from the previous close of ₹2,380.40, and touched an intraday high of ₹2,454, marking a 3.09% rise. The last traded price stood at ₹2,445, reflecting a day gain of 2.82%.
MCX’s price action notably outperformed its sector benchmark, which rose by 0.67%, and the Sensex, which gained a modest 0.40% on the same day. This relative strength highlights the stock’s leadership within the capital markets sector amid a broadly positive market environment.
Technical and Trend Analysis
The stock’s technical indicators reinforce the bullish sentiment. MCX is trading above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a strong upward momentum across multiple time frames. After experiencing two consecutive days of decline, the stock has staged a trend reversal, gaining traction and attracting renewed buying interest.
Despite the strong price gains, investor participation measured by delivery volumes has shown some moderation. The delivery volume on 6 February was 26.15 lakh shares, which is down by 18.4% compared to the five-day average delivery volume. This suggests that while the stock is liquid and actively traded, some investors may be opting for shorter-term trading strategies rather than long-term holding at this juncture.
Institutional Interest and Market Capitalisation
MCX’s market capitalisation stands at ₹62,291.96 crores, categorising it as a mid-cap stock within the capital markets sector. The stock’s liquidity profile is robust, with the traded value on 9 February representing approximately 2% of its five-day average traded value, supporting trade sizes of up to ₹33.49 crores without significant market impact. This liquidity is attractive to institutional investors and large traders seeking to execute sizeable orders efficiently.
Institutional interest in MCX has been reflected in the strong value turnover and the stock’s ability to sustain gains despite broader market fluctuations. The company’s position as a leading commodity exchange in India, coupled with favourable regulatory developments and increasing commodity market participation, continues to underpin investor confidence.
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Mojo Score Upgrade and Analyst Ratings
MarketsMOJO has upgraded MCX’s Mojo Grade from Buy to Strong Buy as of 18 November 2025, reflecting improved fundamentals and positive market outlook. The stock currently holds a Mojo Score of 82.0, indicating strong buy signals based on a comprehensive analysis of financial health, price momentum, and valuation metrics. This upgrade signals increased confidence among analysts and market participants in the stock’s near-term appreciation potential.
Despite the strong Mojo Grade, the company’s Market Cap Grade remains at 2, consistent with its mid-cap status. This suggests that while the stock is fundamentally sound and technically strong, it still offers room for growth relative to larger capitalised peers in the capital markets sector.
Sectoral Context and Comparative Performance
The capital markets sector has witnessed moderate gains recently, supported by improving macroeconomic indicators and increased trading volumes across exchanges. MCX’s outperformance relative to its sector peers by 2.38% on 9 February 2026 highlights its leadership position and the market’s recognition of its growth prospects.
Commodity exchanges like MCX benefit from rising commodity prices and increased hedging activity by producers and consumers. The company’s ability to maintain high liquidity and attract institutional flows positions it favourably to capitalise on these sector tailwinds.
Liquidity and Order Flow Dynamics
MCX’s liquidity profile is a key attraction for large investors. The stock’s traded value of ₹146.98 crores on 9 February 2026 supports sizeable order flows without significant price disruption. This is crucial for institutional investors who require efficient execution of large trades.
While delivery volumes have declined recently, the overall trading activity remains robust, indicating active participation from both retail and institutional segments. The stock’s ability to sustain gains despite fluctuating delivery volumes suggests a balanced mix of short-term traders and long-term holders.
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Outlook and Investor Considerations
Looking ahead, MCX is well positioned to benefit from sustained growth in commodity trading volumes and increasing participation from institutional investors. The company’s strong market position, combined with favourable regulatory support and technological advancements, provides a solid foundation for continued earnings growth.
Investors should monitor delivery volumes and institutional activity closely, as these metrics provide insight into the sustainability of the current price rally. Additionally, the stock’s valuation relative to peers and historical averages will be critical in assessing further upside potential.
Given the recent upgrade to a Strong Buy rating and the stock’s outperformance relative to sector and benchmark indices, MCX remains a compelling mid-cap opportunity within the capital markets sector for investors seeking exposure to India’s growing commodity exchange landscape.
Summary
Multi Commodity Exchange of India Ltd has demonstrated robust trading activity and strong price performance on 9 February 2026, supported by significant value turnover and institutional interest. The stock’s technical strength, combined with an upgraded Mojo Grade and favourable sector dynamics, underscores its appeal as a high-conviction investment. While delivery volumes have moderated, liquidity remains ample for large trades, making MCX a preferred choice for both retail and institutional investors aiming to capitalise on India’s expanding commodity markets.
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