Shares of Multi Commodity Exchange (MCX) and Hindustan Zinc surged on October 9, driven by growing optimism surrounding silver’s ongoing bull run. While domestic silver prices extended their rally, futures slipped slightly due to profit booking at elevated levels.

Market Performance

MCX shares jumped nearly 7%, trading at ₹8,748.50 per share, making it one of the top gainers on the Nifty Capital Markets Index, which itself was up by more than 2%.
Hindustan Zinc, India’s largest silver producer, also saw its shares rise nearly 5%, buoyed by the strong outlook for silver demand and prices.

Silver Price Trends

Silver markets showed mixed movements during the session. On October 9, investors appeared to engage in profit booking, leading to a slight dip in silver futures despite sustained strength in spot prices.

• Silver futures (December 2025 expiry) on the Multi Commodity Exchange (MCX) declined by 0.6% to ₹1,48,945 per kilogram around 1:30 p.m., after touching fresh all-time highs a day earlier.
• March and May 2026 contracts slipped 0.5% and 0.4%, respectively.
• However, July and September 2026 contracts continued their upward momentum, gaining up to 1% and reaching new lifetime highs of ₹1,55,546 per kg and ₹1,56,793 per kg, respectively.

Outlook

Market analysts suggest that while short-term corrections are possible due to profit booking, the long-term outlook for silver remains bullish, supported by global economic uncertainty, rising industrial demand, and strong investment interest in precious metals.

The surge in MCX and Hindustan Zinc shares reflects investor confidence in India’s commodity and metals sectors, with silver emerging as a key driver of sentiment in recent trading sessions.