Most traded stocks today: Market benchmarks- the Sensex and the Nifty 50- jumped more than 1% during the session on Monday, 25 May, driven by a decline in crude oil prices, the rupee’s rise, and positive global cues amid optimism surrounding a potential US-Iran deal.
The Nifty 50 broke above a key resistance of 23,800, nearing 24,000 during the session.
Rajesh Palviya, the head of research at Axis Direct, a sustained move above 23,850 could trigger short covering, potentially accelerating momentum towards the 24,000 – 24,200 level. On the downside, 23,550 and 23,400 are likely to serve as immediate support levels.
Vipin Kumar, AVP- Equity Research and PMS at Globe Capital Market, also believes that a sustainable trade above 23,850 will open the floor for 24,000–24,200 spot levels in the immediate near term.
Meanwhile, Vodafone Idea, Davangere Sugar Company, Jaiprakash Power Ventures (JP Power), HFCL, Fineotex Chemical, Apollo Micro Systems, Suzlon Energy, Ola Electric Mobility, and YES Bank were the most traded stocks, or most active stocks in terms of volume, on the NSE.
GTL Infrastructure, PC Jeweller, Sun Pharma Advanced Research Company, Wipro, Tata Silver Exchange Traded Fund, Sammaan Capital, Adani Power, GAIL (India), Tata Gold Exchange Traded Fund, Dharan Infra-EPC, and JSW Cement were also among the most traded stocks on the NSE.
Some of the most traded stocks today
Vodafone Idea: Over 31 crore shares changed hands as the stock rose by more than 2% during the day to hit a 52-week high of ₹14.06, looking set to extend gains for the fifth consecutive session. The telecom stock has surged 36% so far in May after a 20% rise in April.
In an exchange filing on 25 May, Vodafone Idea said CRISIL Ratings had assigned a “CRISIL A -” rating with a stable outlook on its ₹35,000 crore bank facilities.
Davangere Sugar: More than 10 crore shares changed hands as the stock plunged 9% during the day, looking set to snap its eight-session winning streak, largely due to profit booking. Sugar stocks have been volatile of late after India prohibited sugar exports until the end of September.
JP Power: Over 7 crore shares changed hands as the stock jumped more than 3% during the session. Adani Power has finalised agreements with Jaiprakash Associates to purchase a 24% stake in JP Power and the 180 MW Churk thermal power plant located in Uttar Pradesh, as part of a resolution plan approved by the NCLT for JAL.
HFCL: More than 6 crore shares changed hands as the stock surged 10% to hit its 52-week high of ₹162.50, looking set to extend gains for the fourth consecutive session. The company will conduct virtual meetings with institutional investors on Tuesday, May 26, to discuss the general business updates and the industry in which it operates, on a group or one-on-one basis.
Read all market-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
