7 hrs ago
Volume Shockers Rise as Indian Markets Face Broader Pressure
Some Indian stocks were traded much more heavily than usual on Wednesday.
This means many more shares changed hands, but it does not automatically show whether investors are buying or selling.
EMS Limited rose after being named the lowest bidder for a large sewerage project in Rajasthan.
Expleo Solutions, Windlas Biotech and Antelopus Selan Energy also gained strongly.
AKI India rose 20%, and Best Agrolife reached its daily upper price limit.
Heritage Foods also moved higher on increased trading activity.
At the same time, the wider Indian stock market fell.
Investors were worried because oil prices rose after strikes involving the United States and Iran.
An analyst said rising US bond yields could create additional risks for markets around the world.
EMS Limited rose 10% after receiving L-1 status for a Rajasthan sewerage project estimated at ₹21,864.75 lakh including GST.
Expleo Solutions, Windlas Biotech and Antelopus Selan Energy gained 8.5%, 8.6% and over 7%, respectively, amid sharp volume increases.
AKI India climbed 20% to ₹5.52, while Best Agrolife hit its 10% upper circuit at ₹18.82.
Heritage Foods gained 6% to ₹374.95 as its trading volume rose to more than five times its average.
The Sensex and Nifty fell as higher crude prices and escalating US-Iran tensions increased inflation and global market concerns.
- Who
- EMS Limited, Expleo Solutions, Windlas Biotech, Antelopus Selan Energy, AKI India, Best Agrolife and Heritage Foods were among the active stocks; V K Vijayakumar provided market commentary.
- What
- Several stocks recorded unusually high trading volumes and price gains while India’s benchmark indices declined.
- Where
- Indian stock markets; EMS Limited’s reported project is in Rajasthan.
- When
- Wednesday, during the reported trading session.
- Why
- Stock-specific developments and heightened investor activity supported the individual stocks, while higher crude prices, US-Iran tensions and concerns about US bond yields pressured the broader market.
Key facts
- EMS Limited price move
- Rose 10% to ₹409.5 per share.
- EMS Limited project
- Received L-1 status from the Directorate of Local Bodies, Government of Rajasthan, for sewerage work valued at approximately ₹21,864.75 lakh including GST.
- Largest volume increase
- EMS Limited traded 50,27,656 shares versus an average of 1,41,631, a 35.50-times increase.
- Strongest price gain
- AKI India surged 20% to ₹5.52 per share.
- Best Agrolife
- Hit its 10% upper circuit at ₹18.82 per share.
- Benchmark performance
- The Sensex fell 808.56 points, or 1%, while the Nifty declined 269 points, or 1.1%, at their reported intraday lows.
- Market concerns
- Brent crude rose 5% overnight to $96 as strikes involving the United States and Iran escalated tensions.
Quotes
V K Vijayakumar
Chief Investment Strategist at Geojit Investments Limited
“The big threat is the rising bond yields in the U.S. The macro construct in the US indicates further hardening of the bond yields.”
livemint.com
Sources
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