MCX share price falls over 4% after Q2 results. Should you buy or sell?

MCX share price declined over 4% in early trade on Friday after the company reported its Q2 results. MCX shares fell as much as 4.8% to ₹8,807.15 apiece on the BSE.

Multi Commodity Exchange of India (MCX), the country’s largest commodity derivatives exchange, reported a standalone net profit of ₹197.47 crore in the second quarter of FY26, registering a growth of 28.5% from ₹153.62 crore in the year-ago period.

The bourse’s revenue from operations in Q2FY26 increased 31% to ₹374.23 crore from ₹285.58 crore, year-on-year (YoY).

Average Daily Turnover (ADT) of futures and options increased by 87% YoY at ₹411,270 crore from ₹2,20,249 crore.

The bullion segment of MCX increased its share in ADT from 44% to 57%, supported by launch of new variants like Gold Mini, Gold Ten Futures.

Morgan Stanley said the company’s Q2 net profit was in line with estimates, while core EBITDA also met expectations despite a 2% reduction in costs.

The brokerage firm said that MCX’s average daily transaction revenue (ADTR) jumped to ₹9.5 crore in October, before moderating to ₹8 crore over the past 10 days. According to Morgan Stanley, there could be a meaningful upside risk to earnings-per-share (EPS) forecasts if this higher ADTR is sustained.

Technical Outlook

MCX share price has entered a phase of tight consolidation after a breakout last week from a three-week inside bar pattern, noted Anshul Jain, Head of Research, Lakshmishree Investments.

“This week’s narrow-range candle, coupled with declining volumes, signals a healthy pause rather than weakness. Such price action often precedes a continuation move, and the setup now favors an upside breakout. A sustained move above ₹9,450 could trigger renewed momentum, potentially driving MCX share price toward the ₹10,200 zone in the coming sessions,” said Jain.

He recommends traders to watch for volume expansion on any breakout as confirmation of strength.

MCX share price has gained 14% in one month and more than 18% in three months. The stock has rallied 54% over the past six months, while it has risen 48% on a year-to-date (YTD) basis. MCX share price has delivered multibagger returns of 255% in two years, and a staggering 440% in the past five years.

At 9:55 AM, MCX share price was trading 0.09% higher at ₹9,260.05 apiece on the BSE.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.