Multi Commodity Exchange of India (MCX) was among a group of six stocks in the Futures and Options (F&O) segment that experienced a significant surge in futures open interest. This increase, observed as of October 9, 2025, signals heightened activity and evolving sentiment in the derivatives market.

Open interest represents the total number of outstanding, unexpired futures contracts for a particular asset. A substantial rise in this metric suggests a strong influx of new positions or the expansion of existing ones, reflecting increased participation and liquidity.

MCX, specifically, has demonstrated a notable uptrend in open interest recently. On October 3, 2025, the open interest in MCX futures reached 36,224 contracts, marking an 11.08% increase from the previous figure of 32,611. Another report on the same day noted a similar increase, with open interest reaching 35,918 contracts, a 10.14% rise from the previous 32,611. This was accompanied by a trading volume of 52,224 contracts, translating to a futures value of approximately Rs 56,271.40 lakhs.

This surge in open interest often reflects a dynamic trading environment and can be influenced by various factors, including price trends, market volatility, and broader economic sentiment. In MCX's case, the stock has outperformed its sector, trading above its key moving averages, indicating a strong upward trend. On October 3, the stock reached an intraday high of Rs 8,214.50, a 2.7% increase.

However, it's worth noting that while open interest has increased, the delivery volume for MCX has seen a decrease. On October 1, delivery volume decreased by 15.09% compared to the 5-day average, with 1.47 lakh contracts recorded. Despite this, the stock maintains sufficient liquidity for a trade size of Rs 6.36 crore, based on 2% of the 5-day average traded value.

Analysts have provided forecasts for MCX's future price, with a maximum estimate of 10,000.00 INR and a minimum estimate of 5,860.00 INR. The company is scheduled to release its next earnings report on October 20, 2025. The earnings for the last quarter were 39.84 INR per share, exceeding the estimation of 38.72 INR.

The increase in open interest, coupled with positive price performance, suggests growing confidence in MCX's prospects among investors. However, traders and investors should also consider factors such as delivery volume and upcoming earnings reports to gain a comprehensive understanding of the stock's potential.