MCX hits all-time high as UBS raises price target to Rs 10,000

ET BureauLast Updated: Jun 26, 2025, 05:40:00 AM IST

Synopsis

Multi Commodity Exchange of India (MCX) shares soared to a record high after UBS increased its price target to ₹10,000, driven by a robust volume outlook and anticipated new product launches. UBS anticipates sustained strong trading volumes in key commodities, despite geopolitical uncertainties. The 'Buy' rating reflects confidence in MCX's near- to medium-term growth prospects.

Mumbai: Shares of Multi Commodity Exchange of India (MCX) surged to a lifetime high on Wednesday after brokerage UBS raised its price target on the stock to ₹10,000 from ₹7,000, citing a strong volume outlook, new product launches, and favourable market dynamics.

The revised price target implies an upside potential of 15.3% from Wednesday's close of ₹8,675. MCX shares ended 5.6% higher. UBS has maintained a 'Buy' rating on the stock.

Agencies

UBS said average daily trading volumes of key commodities are expected to stay strong despite geopolitical uncertainty. It said upcoming product additions - such as electricity derivatives, monthly bullion contracts, and index options - may further support near- to medium-term growth.

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