MCX stock jumps 117% as UBS raises target to Rs 10,000
Key Points
- UBS raised MCX's price target from Rs 7,000 to Rs 10,000, re...
When a brokerage house raises its price target by 43% overnight, it's either really good news or someone's calculator needs new batteries. UBS just bumped MCX's target from Rs 7,000 to Rs 10,000, and judging by the 4% jump to Rs 8,620 on Wednesday, traders seem convinced it's the former.
Volume Speaks Louder Than Words
The math behind UBS's optimism is surprisingly straightforward: more volatility equals more trading, and more trading equals more money for exchanges. MCX has seen its average daily futures trading volume spike by roughly 50% quarter-on-quarter, which in exchange terms is...
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