The Shares of Multi Commodity Exchange (MCX) and Hindustan Zinc surged on October 9, driven by positive sentiment from silver’s ongoing bull run. The ongoing rally in silver prices has sparked renewed investor interest in companies directly or indirectly linked to the precious metals segment.
Later on, while domestic silver prices continued to rise, silver futures saw a dip due to profit booking at higher levels after a huge rally. The correction in futures prices reflects a typical market behavior where, following a significant rise, participants take profits at elevated levels, causing short-term volatility.
Silver Price
Silver prices experienced some volatility on October 9, as investors appeared to engage in profit booking at elevated levels. While domestic spot prices continued to rise, silver futures saw a gap-down opening and declined during intraday trade and later recovered.
The October silver futures on the Multi-Commodity Exchange (MCX) slipped over 4% to Rs. 1,43,900 per kilogram at the day’s start, and then session progressed, the silver futures recovered and its currently trading close to their all-time high price. The silver futures on MCX made an all-time high yesterday at Rs. 1,50,282 per kilogram
MCX & Hindustan Zinc
Multi-Commodity Exchange (MCX) with a market capitalization of Rs. 44,445.08 crores on Thursday, it rose by upto 6.9 percent, making a high of Rs. 8749.95 per share compared to its previous closing price of Rs. 8182.95 per share.
MCX, or the Multi-Commodity Exchange of India, serves as a leading platform for trading in a wide range of commodities, including precious metals like gold and silver. When prices of these commodities experience heightened volatility or enter a bullish phase, as seen recently with silver, it typically leads to increased trading activity on the exchange.
This surge in participation boosts overall trading volumes, which in turn directly benefits MCX through increased transaction fees and higher revenues. Additionally, robust trading activity often strengthens investor sentiment towards the exchange itself, potentially lifting its share price as market participants anticipate improved financial performance.
MCX shares have gained nearly 9 percent in the past five days and over 14 percent in the past month, and the stock has rallied nearly 67 percent in the past six months.
Hindustan Zinc Ltd, with a market capitalization of Rs. 2,16,441.97 crores on Thursday, it rose by upto 5.1 percent, making a high of Rs. 515.00 per share compared to its previous closing price of Rs. 489.95 per share.
Hindustan Zinc, a subsidiary of Vedanta Limited, is one of India’s largest integrated producers of zinc and also a significant producer of silver as a byproduct of its mining operations.
With silver prices currently on the rise, the company stands to benefit directly through improved realizations from its silver output. Since silver contributes a substantial portion to the company’s overall revenue, any increase in market prices enhances its top-line performance and profitability.
This improved earnings outlook can positively influence investor sentiment, making the stock more attractive in the eyes of both retail and institutional investors. Consequently, the expectation of stronger financial results due to elevated silver prices often leads to upward movement in the company’s share price, reflecting the market’s optimism about its future earnings potential.
Hindustan Zinc shares, meanwhile, gained nearly 6.6 percent in the past five days, and over 18 percent in the past one month. The stock jumped 28 percent in the past six months, and is up over 15.5 percent in 2025 so far.
Written by Sridhar J
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