Multi Commodity Exchange of India Closing Bell Updates: Stock Plunges 6.46% on UBS Downgrade
Multi Commodity Exchange of India (MCX) share price ended at ₹2,954.50, down 6.46% today, as a UBS downgrade and profit-taking overshadowed its MSCI inclusion.
Multi Commodity Exchange of India (MCX) witnessed a significant sell-off today, with its shares closing down 6.46% at ₹2,954.50. The commodity bourse opened notably lower at ₹3,169.80, a dip from its previous close of ₹3,158.50, and saw an intraday high of only ₹3,177.00 before bears took firm control. The stock then slipped to an intraday low of ₹2,906.20, reflecting strong selling pressure throughout the session. Total traded volume surged to 17,655,814 shares, significantly higher than its typical daily average, underscoring intense activity.
| MCX – Stock Updates as of (4:33PM, 29 May 2026) | |||
LTP ₹2,954.50 | Open ₹3,169.80 | High ₹3,177.00 | Low ₹2,906.20 |
52W High ₹0.00 | 52W Low ₹0.00 | Volume 17,655,814 | % Chg -6.46% |
Session Highlights
The trading day for MCX began with a gap-down opening, indicating early negative sentiment. Despite its inclusion in the MSCI Global Standard Index becoming effective today, which typically serves as a strong positive catalyst, the stock failed to find momentum. Instead, selling intensified, pushing MCX towards its intraday low in the late morning. A brief attempt at recovery proved short-lived, with the scrip continuing its downward trajectory and closing near the day's lows, signaling widespread profit-taking and a decisive intraday reversal.
Drivers & Developments
Today's sharp decline in MCX shares was primarily driven by a combination of a significant analyst downgrade and broader market sentiment impacting commodity prices. Global brokerage UBS downgraded MCX to "Neutral" from "Buy" on Friday, warning that the company's peak earnings momentum might be behind it, despite raising its target price. This downgrade appears to have overshadowed the positive impact of MCX's inclusion in the MSCI Global Standard Index, which became effective today and was estimated to attract substantial passive inflows of approximately $362 million.
Adding to the pressure, commodity prices on the exchange experienced volatility. Gold and silver futures on MCX traded lower today amidst reports of a potential US-Iran ceasefire extension, which eased geopolitical tensions and reduced safe-haven demand for precious metals. Concurrently, crude oil futures on MCX also saw a decline of 5.45%, attributed to heightened geopolitical tensions around the Strait of Hormuz, causing supply uncertainty, although some reports also pointed to easing US-Iran tensions contributing to lower oil prices. The stock had already corrected by over 14% from its all-time high touched just last week, suggesting profit-taking was already underway, exacerbated by today's fresh triggers.
52-Week Context
Today's closing price of ₹2,954.50 places MCX significantly off its 52-week high of ₹3,480.00, which was registered just last week on May 21, 2026. Despite the steep correction, the stock remains substantially above its 52-week low of ₹1,278.10 recorded on May 27, 2025, highlighting its strong run over the past year. The current level represents a notable retreat from its recent peak, pulling it back into the midrange of its annual performance, albeit closer to its recent high.
What to Watch Tomorrow
Investors will closely monitor geopolitical developments affecting commodity prices and any further analyst commentary. Technically, the level around ₹2,800 could act as a crucial support zone.
Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.
(The above story first appeared on LatestLY on May 29, 2026 04:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
