MCX surges 20% in two-days on proposed FMC - SEBI merger
The stock hit high of Rs 1,285, its highest level since February 2013, in intra-day trade today on NSE.
 "MCX surges 20% in two-days on proposed FMC - SEBI merger")
Shares of Multi Commodity Exchange of India (MCX) has rallied 7% to Rs 1,271, extending its Saturday’s 13% rally on BSE, after the government proposed the merger of Forward Markets Commission (FMC) and Securities and Exchange Board of India (SEBI) which would bring all commodity exchanges under the SEBI Act.
The stock opened at Rs 1,194 and touched a high of Rs 1,285, also its highest level since February 2013 on NSE. The counter has seen a huge trading volumes with a combined 2.5 million shares changed hands till 1047 hours on NSE and BSE.
Leading commodity bourse MCX's Joint Managing Director P K Singhal said the merger of FMC with Sebi would strengthen the regulations in commodity future market, the PTI report suggest. CLICK HERE TO READ FULL REPORT.
According to analyst at Spark Capital, commodity exchanges can launch products such as options, trading on index’s with permission from SEBI also.
“It’s positive for MCX as options could be introduced. Impact of CTT on options would be limited as it applicable only on the option premium,” said analyst in sectoral impact analysis.
The stock opened at Rs 1,194 and touched a high of Rs 1,285, also its highest level since February 2013 on NSE. The counter has seen a huge trading volumes with a combined 2.5 million shares changed hands till 1047 hours on NSE and BSE.
Leading commodity bourse MCX's Joint Managing Director P K Singhal said the merger of FMC with Sebi would strengthen the regulations in commodity future market, the PTI report suggest. CLICK HERE TO READ FULL REPORT.
According to analyst at Spark Capital, commodity exchanges can launch products such as options, trading on index’s with permission from SEBI also.
“It’s positive for MCX as options could be introduced. Impact of CTT on options would be limited as it applicable only on the option premium,” said analyst in sectoral impact analysis.