MCX Shares Hit 52-Week High After Sebi Tech Panels Approval For New CPD

Shares of Multi Commodity Exchange (MCX) jumped 5 per cent in mid-session trade on Monday, after the bourse received approval from Sebi's tech panel to launch new web-based commodity derivatives platform (CPD).

The scrip of the company rallied 4.80 per cent to Rs 2,137 apiece on the BSE, while shares of MCX climbed 4.73 per cent to Rs 2,136 per piece on the NSE.

Further, the stock hit 52-week high of Rs 2,150 and Rs 2,149.50 per piece on the NSE and BSE, respectively.

Meanwhile, the 30-share BSE Sensex plunged 393.59 points or 0.60 per cent lower at 65,602.04 points and Nifty fell 0.61 per cent at 19,534.45 points in the mid-session trade.

On Sunday, MCX said it has received the approval from markets regulator Sebi's tech panel to launch a new web-based CPD after several delays with the capital market watchdog earlier.

"Subsequently, Sebi Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate Sebi regarding the proposed date for Go Live," the company said in a regulatory filing.

The approval came after the Securities and Exchange Board of India (Sebi) on September 29, advised the company to put on hold the proposed go-live of its new commodity derivatives platform planned for the first week of October.

The regulator, however, has withdrawn its directions to MCX and MCXCCL to "keep the proposed Go-Live of CDP in abeyance".

Sebi's intervention came as Chennai Financial Markets and Accountability (CFMA), an investor group, had asked the market regulator to ensure that MCX had required technical support.