External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Multi Commodity Exchange India / Equity Bottom-Up

<ul><li>MCX options volume is scaling new highs and the futures volume is catching up</li><li>Post the tech transition in Oct-2023, the options volume is up 60% and the futures volume is at a multi-quarter high</li><li>We believe MCX will be the least impacted by the ongoing regulatory risk as (1) it has near-zero exposure to weekly options, (2) crude, which is ~80% of options volume, is monthly expiry and gold has bimonthly expiry, (3) the number of retail options traders on MCX platform is ~17/23% of NSE/BSE, and (4) growth in options premium ADTV (~106% YoY in FY24) is led by the rise in the options traders (+81% YoY) while the exposure per option traders per day is only INR 23K up 14% YoY</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MCX options volume is scaling new highs and the futures volume is catching upPost the tech transition in Oct-2023, the options volume is up 60% and the futures volume is at a multi-quarter highWe believe MCX will be the least impacted by the ongoing regulatory risk as (1) it has near-zero exposure to weekly options, (2) crude, which is ~80% of options volume, is monthly expiry and gold has bimonthly expiry, (3) the number of retail options traders on MCX platform is ~17/23% of NSE/BSE, and (4) growth in options premium ADTV (~106% YoY in FY24) is led by the rise in the options traders (+81% YoY) while the exposure per option traders per day is only INR 23K up 14% YoYContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Multi Commodity Exchange India

MCX: On a Strong Footing. Maintain Buy