Shares of SKS Microfinance and Multi Commodity Exchange (MCX) have rallied more than 5% each in otherwise subdued market on the back of huge volumes.

SKS Microfinance has soared 17% to Rs 82.80, extending its yesterday’s 4% gain, on reports that the Reserve Bank of India (RBI) may relax some of the norms pertaining to microfinance institutions.

As many as a combined 5.49 million shares have already changed hands in noon deals, as against an average of less than one million shares that were traded daily in past two weeks.

MCX is trading higher by 6% to Rs 1,105 on the back of over two-fold surge in trading volumes. A total of 332,502 shares have already changed hands on the counter so far, as compared to 132,000 shares that were traded daily in past ten trading days on the NSE and BSE.

Country's largest commodity exchange MCX on Thursday said that regulator Forward Markets Commission (FMC) has approved the appointment of Shreekant Javalgekar as new Managing Director and CEO for a period of 3 years with effect from July 01, 2012.