BSE zooms 19% on heavy volumes; MCX surges 8% on positive outlook

The outlook for Indian equities market in FY25 appears promising, supported by various factors such as economic recovery, stable government, increased focus on reforms, and rise foreign investments.

BSE, MCX share price today: Shares of the Bombay Stock Exchange (BSE) zoomed 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 expectation of strong earnings. At 02:41 PM, the stock was trading 16 per cent higher at Rs 3,372 on the back of multi-fold jump in average trading volume. As many as 9.13 million equity shares, representing 6.7 per cent of the total equity of BSE, have, so far, changed hands on the NSE, exchange data shows.

Meanwhile, shares of Multi Commodity Exchange of India (MCX), too, hit a record high of Rs 5,178.65 as they surged 8 per cent on the NSE in the intraday trade. In the past one month, the MCX share price has rallied nearly 30 per cent.

 

That apart, shares of Indian Energy Exchange (IEX) also hit a new high of Rs 222.27, up nearly 2 per cent on the NSE. In comparison, the Nifty 50 was up 0.15 per cent at 25,393.70 at 02:41 PM.

Exchanges are designed to provide centralised facilities for the listing and trading of financial instruments, including securities issued by companies, sovereigns, and other entities to raise capital. Exchanges are crucial market intermediaries and are supervised by the Securities and Exchange Board of India (Sebi).

The Stock Exchange industry in India has evolved rapidly in the past few years and spans multi asset classes – equities, equity derivatives, currency derivatives, commodity derivatives, ETF, mutual funds, debt, interest rate derivatives and power trading.

The macro factors influencing the markets include the strong economic growth prospects, solid corporate results, strong inflows from both domestic and foreign institutional investors, favourable government policies, and confidence of domestic investors in the economic strength and growth prospects, BSE had said in its financial year 2023-24 (FY24) annual report.

"The outlook for the Indian equities market in FY25 appears promising, supported by various 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 it may have a significant impact in the Indian markets," it said.

The relaunch of BSE derivatives products, according to Motilal OswalFinancial Services, has proved to be a trend-changing measure.

"Increased member participation, new product launches (stock derivatives), rising awareness about products, and a recent launch of stock derivatives would continue to drive market share gains for BSE," the brokerage had said in its June quarter (Q1FY25) result update report dated August 7.

BSE continues to gain market share in the derivatives segment, as acceptance of products gets widespread. The momentum for stock futures and options launched in July 2024, though, is still at a nascent stage, it added.

Other levers that will support growth over the medium term include colocation revenues, continued momentum in the STAR MF business, growth in the cash segment, possibility of levying a fee for listing of debt securities, start of operations at its Power Exchange, and commencement of revenue from its Gold Spot exchange.

MCX share price in focus

MCX, on its part, said that with the potential boost in commodity demand following the economic upswing, there could be new opportunities for the company to innovate and introduce new derivative products that fulfill the requirements of stakeholders in both agricultural and non-agricultural commodities.

"Therefore, the outlook for the company is positive, primarily due to expanding demand from the improvement in economic activities and the increasing need for commodity price risk management," MCX said in its FY24 annual report.