MCX shares gain 3%, surge 12% in just 5 sessions. What’s behind the sharp rally?

Trading activity remained strong, with around 16.12 lakh MCX shares changing hands, translating into a turnover of nearly Rs 460 crore. The rally comes amid a broad-based surge across commodities, lifting trading activity on the exchange. MCX typically benefits when commodity prices move higher as well as during periods of volatility, as both factors tend to drive higher trading volumes.

A rise in prices across key segments such as bullion, energy and base metals encourages greater participation from traders and hedgers, boosting transaction volumes. Since the exchange earns a significant portion of its revenue from transaction fees, higher volumes translate directly into improved earnings visibility.

MCX Q3 snapshot

The company reported a sharp rise in earnings for the quarter ended December 31, 2026, with consolidated net profit surging 151% year-on-year to Rs 401 crore from Rs 160 crore in the same period last year. The profit after tax is attributable to the owners of the company.
Revenue from operations also saw strong growth, rising 121% YoY to Rs 666 crore in Q3FY26 from Rs 301 crore a year earlier.

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On a sequential basis, performance remained robust. Net profit jumped 103% from Rs 197 crore, while revenue increased 78% from Rs 374 crore in the previous quarter. Operating performance strengthened significantly during the quarter, with EBITDA climbing 144% to Rs 527 crore.

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Business activity also picked up sharply. Average daily turnover of futures and options rose 224% YoY to Rs 7,50,136 crore from Rs 2,31,821 crore. The bullion segment continued to dominate, with its share in ADT increasing to 69% on a quarter-on-quarter basis, supported by the launch of new contracts such as Gold Mini and Gold Ten futures.MCX shares are up 30% since the beginning of the year.

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