Bernstein has favoured MCX over BSE as commodity derivatives volumes maintain strong momentum while equity derivatives activity weakens amid the Closing Auction Session. The brokerage expects MCXs growth to support earnings upgrades, while BSE faces moderating volumes, slowing market share gains and a sharp deceleration in earnings growth over the coming years.

BSE shares fell sharply on Wednesday after Bernstein initiated coverage with an Underperform rating and a Rs 2,820 target, implying 17% downside. The brokerage expects retail…

Bernstein has favoured MCX over BSE as commodity derivatives volumes maintain strong momentum while equity derivatives activity weakens amid the Closing Auction Session. The…