MCX shares rise 2 per cent after SEBI approval for web-based commodity derivatives platform
In the morning trade, the stock of the company rallied 4.80% to Rs 2,137 apiece, trimmed the early gains and ended 1.90% higher at Rs 2,077.85 on the BSE
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New Delhi: Shares of Multi Commodity Exchange (MCX) on Monday settled 2 per cent higher after the bourse received approval from Sebi's tech panel to launch the new web-based commodity derivatives platform.
In the morning trade, the stock of the company rallied 4.80 per cent to Rs 2,137 apiece, trimmed the early gains and ended 1.90 per cent higher at Rs 2,077.85 on the BSE. On the NSE, it climbed 4.73 per cent to Rs 2,136 apiece and later closed 1.25 per cent up at Rs 2,065 per share. During the day, MCX's shares hit the 52-week peak of Rs 2,150 and Rs 2,149.50 apiece on the NSE and BSE, respectively.
On the volume front, 2.53 lakh equity shares were traded on the BSE and 60.54 lakh shares were on the NSE during the day. The 30-share BSE Sensex declined 0.73 per cent lower to close at 65,512.39 points while the NSE Nifty fell 0.72 per cent to settle at 19,512.35 points. On Sunday, MCX said it has received the approval from Sebi's tech panel to launch a new web-based Commodity Derivatives Platform (CDP) after several delays.
"Subsequently, Sebi Technical Advisory Committee has recommended that MCX and MCXCCL (Multi Commodity Exchange Clearing Corporation Limited) may Go-Live with the CDP and to intimate Sebi regarding the proposed date for Go Live," the company said in a regulatory filing on Sunday.
The approval came after the Securities and Exchange Board of India (Sebi) on September 29, advised the company to put on hold the proposed go-live of its new CDP planned for the first week of October. The regulator, however, has withdrawn its directions to MCX and MCXCCL to "keep the proposed Go-Live of CDP in abeyance".
