Key Events This Week
27 Jan: Gap up opening and intraday high at Rs. 2,428.30
28 Jan: New 52-week and all-time highs at Rs. 2,604.95 and Rs. 2,593.15
29 Jan: Further 52-week and all-time highs at Rs. 2,704.80 and Rs. 2,682
30 Jan: Intraday low amid price pressure, closing at Rs. 2,524.95
27 January 2026: Strong Gap Up and Intraday High Signal Rebound
MCX began the week with a robust 4.5% gap up opening, closing at Rs. 2,422.10, a 6.11% gain on the day. The stock reached an intraday high of Rs. 2,428.30, reversing a five-day decline and outperforming the Sensex’s 0.50% rise. This surge was supported by the company’s outstanding quarterly financial results announced the same day, which reported record net sales of Rs. 665.62 crore and a PBDIT of Rs. 495.16 crore, with operating margins expanding to 74.39%. The strong fundamentals and technical positioning above all key moving averages reinforced investor confidence, driving the stock’s momentum.
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28 January 2026: New 52-Week and All-Time Highs Amid Strong Momentum
Building on the previous day’s gains, MCX surged to a new 52-week high of Rs. 2,604.95 and an all-time high of Rs. 2,593.15 on 28 January. The stock closed at Rs. 2,594.50, up 7.12%, significantly outperforming the Sensex’s 1.12% gain. Intraday volatility was elevated at 27.84%, reflecting active trading and investor enthusiasm. The rally was underpinned by the company’s record quarterly results and strong institutional ownership of 79.79%. Technical indicators remained bullish, with the stock trading above all major moving averages and maintaining a Mojo Score of 82.0 with a Strong Buy rating.
29 January 2026: Continued Rally with New Highs and Derivatives Surge
MCX extended its winning streak on 29 January, hitting a fresh 52-week high of Rs. 2,704.80 and an all-time high of Rs. 2,682. The stock closed at Rs. 2,690.45, up 3.70%, while the Sensex declined by 0.68%. This divergence highlighted MCX’s resilience amid broader market weakness. The derivatives segment saw a sharp open interest surge of 11.58%, with futures and options turnover exceeding Rs. 1.7 lakh crores, signalling strong market participation and bullish positioning. The stock’s technical strength was reinforced by sustained trading above key moving averages and a high delivery volume, confirming robust investor conviction.
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30 January 2026: Intraday Low and Price Pressure Interrupt Rally
On the final trading day of the week, MCX faced notable intraday selling pressure, hitting a low of Rs. 2,542.50 and closing at Rs. 2,524.95, down 6.15%. This 5.46% intraday decline interrupted a three-day rally but occurred amid a broader market decline where the Sensex fell 0.22%. Despite the setback, MCX remained above all key moving averages, indicating that the correction was a short-term pullback rather than a fundamental reversal. The stock underperformed its sector by 4.38%, reflecting specific pressures possibly linked to profit-taking after a strong run. Medium- and long-term performance metrics remain robust, with one-year returns exceeding 126% and a Mojo Score of 82.0 sustaining a Strong Buy rating.
Daily Price Comparison: Stock vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-01-27 | Rs.2,422.10 | +6.11% | 35,786.84 | +0.50% |
| 2026-01-28 | Rs.2,594.50 | +7.12% | 36,188.16 | +1.12% |
| 2026-01-29 | Rs.2,690.45 | +3.70% | 36,266.59 | +0.22% |
| 2026-01-30 | Rs.2,524.95 | -6.15% | 36,185.03 | -0.22% |
Key Takeaways
Positive Signals: MCX’s weekly gain of 10.61% significantly outperformed the Sensex’s 1.62%, driven by record quarterly financials, multiple new highs, and strong derivatives market activity. The stock’s technical positioning above all major moving averages and a Mojo Score of 82.0 with a Strong Buy rating reflect sustained momentum and investor confidence. Institutional ownership remains high at 79.79%, supporting market stability and valuation strength.
Cautionary Notes: The sharp intraday decline on 30 January indicates short-term profit-taking and increased volatility, which may persist in the near term. The stock’s premium valuation metrics, including a price-to-book value exceeding 30 and a PEG ratio near 0.9, suggest that investors should monitor earnings growth closely to justify current prices. Elevated open interest and volume in derivatives also imply heightened market positioning, which could lead to increased price swings.
Conclusion
Multi Commodity Exchange of India Ltd demonstrated a compelling performance during the week ending 30 January 2026, with a 10.61% price appreciation that outpaced the broader market. Supported by exceptional quarterly results, technical strength, and strong market participation in both cash and derivatives segments, MCX has solidified its position as a leading momentum stock in the capital markets sector. While the recent intraday correction signals some short-term volatility, the company’s robust fundamentals, high institutional backing, and positive technical indicators suggest that the stock remains well-positioned for continued strength. Investors should remain attentive to valuation levels and market dynamics as MCX navigates the evolving market environment.
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