BSE rises 19% on high volumes; MCX rises 8% on positive outlook
Mumbai: A man walks past a BSE (Bombay Stock Exchange) logo at the Bombay Stock Exchange building in Mumbai, Monday, August 12, 2024. (Photo: PTI)
BSE, MCX Stock Price Today: Shares of the Bombay Stock Exchange (BSE) surged 19 per cent to hit a record high of Rs 3,448 on the National Stock Exchange (NSE) on Monday, lifted by heavy volumes on expectations of strong gains. At 02:41 PM, the stock was trading 16 per cent higher at Rs 3,372 on the back of a multiple jump in average trading volume. As many as 9.13 million shares, amounting to 6.7 per cent of BSE’s total equity, have changed hands on the NSE so far, exchange data showed.
Meanwhile, shares of Multi Commodity Exchange of India (MCX) also touched a record high of Rs 5,178.65 as they rose 8 per cent on the NSE in intraday trade. In the past one month, the MCX share price has risen by nearly 30 per cent.
Additionally, shares of Indian Energy Exchange (IEX) also hit a new high of Rs 222.27, up nearly 2 percent on the NSE. In comparison, the Nifty 50 was up 0.15 percent at 25,393.70 at 02:41 PM.
Stock exchanges are designed to provide centralized facilities for listing and trading of financial instruments, including securities issued by companies, governments and other entities to raise capital. Stock exchanges are crucial market intermediaries and are regulated by the Securities and Exchange Board of India (Sebi).
The stock market sector in India has developed rapidly in recent years and encompasses multiple asset classes – equities, equity derivatives, currency derivatives, commodity derivatives, ETFs, mutual funds, debt, interest rate derivatives and energy trading.
The macroeconomic factors influencing the markets include strong economic growth prospects, solid corporate performance, strong inflows from both domestic and foreign institutional investors, favourable government policies and domestic investors’ confidence in economic strength and growth prospects, BSE said in its annual report for the financial year 2023-24 (FY24).
“The outlook for the Indian equity market in FY25 appears promising, supported by several factors such as economic recovery, stable government, increased focus on reforms and rising foreign investments. However, it will be crucial to remain vigilant and monitor potential risks such as global financial conditions and domestic policy changes as these could have a significant impact on the Indian markets,” the report said.
According to Motilal Oswal Financial Services, the relaunch of BSE derivatives products has proven to be a trend-setting measure.
“Higher participation of members, launch of new products (equity derivatives), increasing awareness of products and recent launch of equity derivatives would continue to drive BSE’s market share gains,” the brokerage said in its updated June quarter (Q1FY25) results report dated August 7.
BSE continues to gain market share in the derivatives segment as product adoption becomes widespread. However, momentum for equity futures and options launched in July 2024 is still at a nascent stage, it added.
Other factors that will support growth in the medium term include colocation revenues, continued momentum in the STAR MF business, growth in the cash segment, the ability to charge a fee for listing debt securities, the start of operations on the Power Exchange and the start of revenues from the Gold Spot exchange.
MCX stock price in pictures
MCX indicated that with the possible increase in demand for commodities due to the economic upturn, new opportunities could arise for the company to innovate and introduce new derivative products that meet the demands of stakeholders in both agricultural and non-agricultural commodities.
“Therefore, the outlook for the company is positive, mainly due to increasing demand on account of improving economic activities and increasing need for risk management with respect to commodity prices,” MCX said in its annual report for FY 2024.
First publication: Sep 16, 2024 | 3:28 PM IST