CAS weighs on NSE, BSE Q2 earnings; MCX rides gold, silver volatility

What happened: The closing auction session widened an earnings divide between India's equity and commodity exchanges, with NSE and BSE posting sequential profit declines in Q2FY27 while MCX extended growth. Key numbers: NSE net profit fell 17% to ₹2,578 crore, revenue down 11% to ₹4,067 crore. Why it matters: Sebi's rollback of CAS on 15 October could revive equity exchange volumes, with trading already recovering in the October series. MCX's outlook depends on whether gold and silver volatility persists, and analysts see NSE as better placed on market share and valuation.

The closing auction session widened an earnings divide between India's equity and commodity exchanges, with NSE and BSE posting sequential profit declines in Q2FY27 while MCX extended growth.

Sebi's rollback of CAS on 15 October could revive equity exchange volumes, with trading already recovering in the October series. MCX's outlook depends on whether gold and silver volatility persists, and analysts see NSE as better placed on market share and valuation.