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Shares of Multi Commodity Exchange of India (MCX) traded higher on Thursday after the exchange fixed January 2, 2026, as the record date for its proposed equity share split, a move aimed at improving liquidity and widening retail participation.

The stock rose around 2 per cent in intraday trade to Rs 10,245 on the BSE, as investors reacted positively to the update. The company had informed stock exchanges after market hours on Wednesday that the record date had been finalised following shareholder approval.

As part of the approved proposal, each equity share of face value Rs 10 will be subdivided into five equity shares of face value Rs 2 each. While the number of shares held by investors will increase, the overall investment value will remain unchanged.

MCX had earlier received shareholder approval for the stock split, which was communicated to the exchanges in September this year.

MCX has been one of the standout performers in the market this year. The stock has gained about 62 per cent so far in 2025, sharply outperforming the BSE Sensex, which has risen about 7.8 per cent during the same period.

Earlier this month, MCX shares touched a lifetime high of Rs 10,515.60. From its 52-week low of Rs 4,410.10 recorded in March, the stock has rebounded more than 130 per cent, reflecting sustained interest in the counter.

Brokerages continue to remain positive on MCX, citing its dominant position in India’s commodity derivatives market. The exchange commands nearly 98 per cent share of commodity futures turnover and holds an almost complete share in precious metals, base metals and energy contracts.

Analysts at ICICI Securities said MCX offers strong diversification across commodities and is well positioned to benefit from volatility in key segments such as gold and crude oil. Rising options volumes, steady client additions and new product launches are expected to support long-term growth, they added.

The brokerage has raised its revenue and profit estimates for FY26 and FY27, factoring in the sharp rise in average daily turnover, while flagging commodity price volatility as a key monitorable.

Motilal Oswal Financial Services highlighted MCX’s recent product launches, including new silver contracts, cardamom and nickel futures, as well as options on the MCX iCOMDEX Bullion Index. According to the brokerage, these products have seen encouraging traction, with management indicating a healthy pipeline backed by regulatory approvals.