MCX and Hindustan Zinc Share Price Jump as Silver Futures Cross ₹1.3 Lakh Mark | Stock Market Today

Market Performance

The Indian stock market on September 12 saw a sharp surge in precious metals, with silver stealing the spotlight. Silver futures on MCX (Multi Commodity Exchange) not only hit fresh record highs but also pushed related stocks like MCX and Hindustan Zinc into positive territory.

The rally in silver was strong enough to make it one of the best-performing commodities of the day, while gold, though climbing, trailed behind its industrial cousin.

Silver Futures Rally

Silver prices made headlines as contracts across multiple expiries breached historic levels.

• December expiry silver contracts touched an all-time high of ₹1,28,612 per kg on MCX.
• March expiry contracts surged nearly ₹1,600 (1%), breaching the psychological barrier of ₹1.3 lakh per kg for the first time ever.
• In the domestic spot market, silver added a sharp ₹2,100 per kg in a single day, scaling up to ₹1.32 lakh per kg, as per Investorgain data.

While silver continued its powerful rally, gold also inched higher. October expiry gold futures on MCX climbed about ₹575 per 10 grams, trading at ₹1,09,656, just shy of their lifetime high of ₹1,09,840 per 10 grams.

MCX Share Price Today

The surge in bullion had a direct impact on MCX shares.

• The stock rose over 2%, trading at ₹7,730 per share.
• Despite a 5% drop in the last one month, the stock has gained nearly 62% in the past six months.
• On a year-to-date basis, MCX is up close to 23% in 2025.

This reflects how the exchange operator has been riding on strong trading volumes and heightened investor interest in commodities.

Hindustan Zinc Share Price Today

Shares of Hindustan Zinc, India’s largest silver producer, also benefited from the sudden surge in silver prices.

• The stock climbed over 1%, trading around ₹453 per share.
• In the last five days, the stock has added nearly 3%, and over the past month, it has gained close to 7%.
• However, on a one-year view, the Vedanta Group company’s shares are still down around 8%.
• Hindustan Zinc currently trades at a P/E ratio of over 18.

The company, which produces refined silver with 99.9% purity, stands to gain whenever silver prices rise significantly in the domestic and global markets.

Summary

The session belonged to silver. Futures crossed the ₹1.3 lakh mark, and the momentum carried MCX and Hindustan Zinc shares higher. Gold remained supportive but secondary in comparison.

Key takeaways:

• Silver December futures: ₹1,28,612/kg
• Silver March futures: crossed ₹1.3 lakh/kg
• Spot silver: ₹1.32 lakh/kg (+₹2,100 in a day)
• Gold October futures: ₹1,09,656/10g
• MCX share price: ₹7,730 (+2%)
• Hindustan Zinc share price: ₹453 (+1%)

The combination of record-breaking silver prices and renewed investor interest has put both MCX and Hindustan Zinc in the market spotlight today.