MCX Launches Options Trading on Bullion Index MCX BULLDEX

Multi Commodity Exchange of India Ltd. (MCX), India's leading Commodity Derivatives Exchange, has announced a significant development in the precious metals trading segment. Effective October 27, 2025, MCX is set to launch monthly Options contracts on the MCX iCOMDEX Bullion Index, known as MCX BULLDEX.

Key Features of MCX BULLDEX

Composition: The index comprises MCX Gold and Silver Futures contracts
Purpose: Provides a risk management tool offering diversified exposure to the precious metals segment
Coverage: Includes both gold and silver, offering balanced exposure for investment and hedging requirements
Compliance: Conforms to International Organisation of Securities Commissions (IOSCO) Principles for Financial Benchmarks standards

Significance of the Launch

The introduction of Options on MCX BULLDEX marks a pivotal development in India's commodities ecosystem. This innovative product is expected to enhance the range of offerings in the commodity derivatives market and assist market participants in gaining exposure to a basket of commodities in the bullion segment.

MCX's Market Position

Aspect	Details
Market Share	Approximately 98% in commodity futures contracts traded (FY 2024-25)
Global Ranking	Largest Commodity Options Exchange globally
Trading Offerings	Diverse range including bullion, energy, metals, agri commodities, and sectoral indices

Expert Commentary

Ms. Praveena Rai, MD & CEO of MCX, commented on the launch: "The introduction of Options on MCX BULLDEX marks a pivotal development in India's commodities ecosystem. This is a unique and innovative product which will enhance the range of products in the commodity derivatives ecosystem and assist market participants to take exposure to a basket of commodities in the bullion segment."

This new offering by MCX aligns with its commitment to deepen India's commodity markets through product innovation, enhanced transparency, and investor-friendly offerings. The launch of Options on MCX BULLDEX is poised to provide market participants with a versatile risk management tool, combining the benefits of diversified underlying assets with the flexibility of Options trading.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.56%	+2.67%	+18.57%	+50.84%	+41.86%	+451.75%

Multi-Commodity Exchange of India (MCX) has witnessed a remarkable surge in its stock price, reaching a new all-time high amid booming precious metals trading activity. The stock's performance and the factors driving its growth deserve a closer look.

Stock Performance Highlights

MCX's stock has shown impressive gains recently:

Metric	Value
Record High	Rs 9,617.00
Date Achieved	October 15
5-Session Gain	16.00%
1-Month Gain	23.00%

Driving Factors

The rally in MCX's stock price is primarily attributed to record trading activity in gold and silver. Gold prices have reached a significant milestone:

Commodity	Price
Gold	Rs 1.27 lakh per 10 grams

Options Trading Dominance

Gold and silver options have become a major contributor to MCX's trading volumes:

Metric	Percentage
Share of Total Notional Options Volume	60.00%
Share of Premium Average Daily Turnover	30.00%

Trading Activity

MCX experienced substantial growth in its options trading:

Metric	Value
Total Options Notional Turnover	Rs 4.5 lakh crore
Gold Options Contribution	Rs 1.7 lakh crore
Gold Options Year-on-Year Increase	37x

Technical Analysis and Projections

Technical analysts have provided the following outlook for MCX stock:

Metric	Value
Potential Upside Targets	Rs 10,120.00 - Rs 10,500.00
Immediate Support	Rs 9,100.00

Analyst Recommendations

HDFC Securities maintains a positive outlook on MCX:

Metric	Value
Rating	BUY
Target Price	Rs 10,000.00

Valuation Metrics

The stock's current valuation compared to historical averages:

Metric	Value
FY26 P/E Ratio	51x
FY27 P/E Ratio	42x
Historical Average P/E	45x

The surge in MCX's stock price reflects the exchange's strong performance, particularly in the precious metals segment. The significant increase in gold and silver options trading has been a key driver of this growth. As the stock trades at a premium to its historical average, investors may want to closely monitor future developments in the commodities market and their potential impact on MCX's performance.