BSE Shares Rally Over 5% On Rumors Of Major Announcement

BSE share price rallied more than 5 per cent on market talks that the exchange was likely to make a major announcement post-closure of Wednesday’s trading session. The share price of BSE touched a high of Rs 975 before 12.00 PM from the previous day’s close of Rs 910, as WhatsApp messages went viral about the exchange’s likely major announcement, sources said.

The share price of BSE has been rising for the past couple of months on the back of the exchange’s rising derivative volumes and also on market rumours of possible merger with commodity exchange MCX. In these couple of months, going pureply by the official filings of BSE and MCX, there has been no official communication from both the exchanges denying the rumours of a merger between them. The fact that MCX was desperate for technology-related solutions for its trading platform and could benefit from BSE’s technology and that BSE could strengthen its position if it got the support of MCX commodity volumes has encouraged market players to take the rumours seriously and push up the share price, brokers said.

MCX was holding its board meeting this week, which was only fueling the speculations further, sources said.