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Multi Commodity Exchange of India Ltd dropped for a fifth straight session today. The stock is quoting at Rs 5027.4, down 6.41% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.84% on the day, quoting at 22131.1. The Sensex is at 73247.33, down 1.83%.Multi Commodity Exchange of India Ltd has lost around 11.83% in last one month.Meanwhile, Nifty Financial Services index of which Multi Commodity Exchange of India Ltd is a constituent, has eased around 0.46% in last one month and is currently quoting at 23173.65, down 1.02% on the day. The volume in the stock stood at 4.3 lakh shares today, compared to the daily average of 3.1 lakh shares in last one month.
The benchmark March futures contract for the stock is quoting at Rs 5061.75, down 6.42% on the day. Multi Commodity Exchange of India Ltd jumped 33.57% in last one year as compared to a 0.67% rally in NIFTY and a 12.4% spurt in the Nifty Financial Services index.
The PE of the stock is 72.97 based on TTM earnings ending December 24.
At 11:30 IST, the barometer index, the S&P BSE Sensex, dropped 762.83 points or 0.99% to 76,310.61. The Nifty 50 index lost 191.10 points or 0.82% to 23,153.65.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.54% and the S&P BSE Small-Cap index declined 1.46%.
The market breadth was strong. On the BSE, 1,266 shares rose and 2,461 shares fell. A total of 148 shares were unchanged.
Buzzing Index:
The Nifty Realty index tumbled 3.40% to 913.25. The index rallied 4.77% in past five consecutive trading sessions.
Oberoi Realty (down 8.22%), Macrotech Developers (down 4.87%), Phoenix Mills (down 2.7%), DLF (down 2.2%), Sobha (down 2.19%), Prestige Estates Projects (down 2.16%), Brigade Enterprises (down 1.71%), Raymond (down 1.56%), Mahindra Lifespace Developers (down 1.27%) and Godrej Properties (down 1.04%) declined.
Stocks in Spotlight:
Dixon Technologies (India) slumped 13.62% after the company’s consolidated net profit declined 47.48% to Rs 216.23 crore on 9.37% fall in revenue from operations to Rs 10,453.68 crore in Q3 FY25 over Q2 FY25.
Oberoi Realty dropped 8.27%. The real estate developers consolidated net profit surged 71.70% to Rs 618.38 crore in Q3 FY25 as against Rs 360.15 crore posted in Q3 FY24. Revenue from operations climbed 33.92% to Rs 1,411.08 crore in Q3 FY25 as compared to Rs 1,053.64 crore recorded in the corresponding quarter last year.
Multi Commodity Exchange of India (MCX) tumbled 10.74%. The company has reported a consolidated net profit of Rs 160.04 crore in Q3 FY25 as against net loss of Rs 5.35 crore posted in Q3 FY24. Revenue from operations jumped 57.35% year on year (YoY) to Rs 301.38 crore in the quarter ended 31 December 2024.
Global Markets:
The US Dow Jones index futures were currently up by 113 points, signalling a positive opening for US stocks today.
Most Asian shares advanced as market attention turned to upcoming central bank meetings in Asia later this week. Malaysia’s central bank is expected to maintain its policy rate at 3% on Wednesday, while the Bank of Japan will hold its next policy meeting from January 23 to 24, with Governor Kazuo Ueda signaling potential interest rate hikes.
President Donald Trump held off on imposing sweeping trade tariffs on his first day in office. Trump resumed his duties in the White House on Monday, a day after his inauguration and during the Martin Luther King, Jr. Day holiday, when U.S. stock market was closed.
Sworn in as the 45th President of the United States on January 20, Trump emphasized his vision of 'America First' in his inaugural address, focusing on economic revitalization, national security, and prioritizing domestic interests over globalization.
Trump began his term with a series of executive orders aimed at fulfilling his campaign promises. These included measures to tighten immigration controls, lay the groundwork for a U.S.-Mexico border wall, boost fossil fuel production, and scale back environmental regulations.
While he declared plans to address global trade practices, Trump opted not to impose new tariffs on the U.S.'s largest trading partners, signaling a more deliberate approach to trade relations. Instead, he directed his administration to combat unfair trade globally.
Investors closely monitored these early actions, given Trump’s promises to rapidly implement his agenda.
EBITDA for the December 2024 quarter stood at Rs 216 crore, as against a loss of Rs 2 crore in the corresponding period of FY23-24.
The contribution to settlement guarantee fund (SGF) stood at Rs 896.25 crore as of December 2024.
Average daily turnover (ADT) of futures grew 37% to Rs 28,410 crore in Q3 FY25 as compared with Rs 20,796 crore posted in corresponding quarter last year.
The options’ ADT surged by 116% to Rs 2,07,090 crore during the quarter from Rs 95,989 crore in Q3 FY24.
The combined number of traded clients for futures and options witnessed a 43.75% growth to 6.9 lakh from 4.8 lakh last year.
Multi Commodity Exchange of India (MCX) is India’s first listed, national-level, electronic exchange, and India’s leading commodity derivatives exchange with a market share of about 97.97% in terms of the value of commodity futures contracts traded in financial year 2023-24. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem.
The scrip tumbled 10% to Rs 5,415.65 on the BSE.