MCX & Hindustan Zinc Shares Surge as Silver Futures Hit Record Levels

The stock market saw strong momentum on October 9, as shares of Multi Commodity Exchange (MCX) and Hindustan Zinc rose sharply, riding the wave of silver’s continued rally. Investors reacted positively to the bullish sentiment surrounding silver, which has captured attention with record-breaking prices.

Market Performance

• MCX shares jumped nearly 7%, reaching Rs 8,748.50 per share in early trade.
• Hindustan Zinc shares, India’s largest silver producer, climbed around 5% on Thursday.
• Nifty Capital Markets Index rose over 2%, reflecting broad gains in the commodity sector.

The surge highlights investor optimism in commodities, particularly silver, amid heightened market interest and strong trading volumes.

Silver Price Trends

Silver prices showed some fluctuations during the trading session:

• Domestic silver prices continued their upward trajectory.
• Silver futures for December expiry fell by 0.6%, trading at Rs 1,48,945 per kg.
• March and May futures saw minor declines of 0.5% and 0.4% respectively.
• July and September futures gained up to 1%, hitting fresh all-time highs of Rs 1,55,546 per kg and Rs 1,56,793 per kg.

The movements reflect a mix of profit booking and sustained investor interest in silver, maintaining the bullish sentiment in the market.

Stock Performance History

• MCX shares have risen nearly 9% over the past five days, 14% in the last month, and 67% in the past six months.
• Hindustan Zinc shares gained 6% in the last five days, 17% in the last month, and 27% over the past six months. In 2025, the stock is already up more than 14%.
• The company’s P/E ratio currently stands at approximately 20, reflecting steady valuation amidst strong market performance.

Company Details

• MCX: India’s leading commodity derivatives exchange, providing a platform for trading in multiple commodities including precious metals.
• Hindustan Zinc: The largest integrated producer of silver in India, part of the Vedanta Group, with solid fundamentals with steady revenue growth and consistent performanceprofitability.

Summary

The October 9 trading session emphasized investor confidence in commodities, particularly silver, driving gains in both MCX and Hindustan Zinc shares. While futures showed some volatility due to profit booking, the overall trend remained positive. Both companies continue to benefit from silver’s robust performance and strong market demand.