Multi Commodity Exchange of India launched futures trading on the country’s first tradable real-time Base Metals Index, i.e. METLDEX.
Reacting to the news, the stock jumped 3.30 per cent and made an intraday high of Rs 1,800 on BSE.
At any point in time, futures will be available for three consecutive months. Futures launched today are with the expiry of November 2020, December 2020, and January 2021. One lot size will be equal to 50 times of the underlying METLDEX. The minimum price movement for the contract is Rs 1.
Multi Commodity Exchange of India (MCX) offers to trade in commodity derivative contracts across various segments like bullion, industrial metals, energy, and agricultural commodities.
The stock has a 52-week high and a 52-week low of Rs 1,859 and Rs 805.05, respectively.
The share price of the company closed at Rs 1,766.80, up by 1.40 per cent or Rs 24.35 per share on BSE.