MCX Shows Strong Short-Term Gains Amid Broader Market Challenges

Jan 23 2025 09:50 AM IST
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On January 23, 2025, Multi Commodity Exchange of India (MCX) showed significant activity, achieving a 3.02% gain and outperforming its sector. The stock reached an intraday high of Rs 5898 and has experienced consecutive gains over two days, despite a decline over the past month.
Multi Commodity Exchange of India (MCX) has demonstrated notable activity on January 23, 2025, with a gain of 3.02%, outperforming its sector by 2.9%. This positive trend is underscored by consecutive gains over the last two days, resulting in a total return of 7.1%.

On this day, MCX reached an intraday high of Rs 5898, reflecting a rise of 3.08%. In terms of moving averages, the stock is currently positioned above its 200-day moving average, although it remains below the 5-day, 20-day, 50-day, and 100-day moving averages.

When compared to the broader market, MCX's one-day performance of 2.80% stands out against the Sensex's modest increase of 0.21%. However, it is important to note that over the past month, MCX has faced a decline of 7.53%, while the Sensex has decreased by 2.52%. This performance illustrates the dynamic nature of the financial landscape in which MCX operates.
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