Alkyl Amines Chemicals emerged as the top gainer in the Nifty 500 index, surging over 7% amid significantly higher trading activity. According to reports from Upstox, trading volume in the stock spiked by more than 50 times to 20.30 lakh shares compared with an average of 35,313 shares. On the BSE, as many as 66,000 shares changed hands compared with an average of 2,191 shares traded daily in the past two weeks. The stock hit an intraday high of ₹1,662 during the session.
Shares of Trident, the textile products maker, maintained their strong momentum as the top gainer in the Nifty 500, rising 7% amid unusually high trading volumes. As reported by Upstox, trading volume in the counter jumped by 29 times to 8.28 crore shares compared with an average trading volume of 28.26 lakh shares. On the BSE, 75 lakh shares changed hands as against a two-week average of 4.23 lakh shares. The stock hit an intraday high of ₹28.50 during the session.
The company's board on Tuesday approved the acquisition of mytrident.com, an unlisted public limited company as domestic wholly owned subsidiary (DWOS) of the company, according to reports from Upstox. This corporate action coincided with the significant surge in the stock's trading activity and price performance.
Metal stocks witnessed significant selling pressure as investors booked profits after a recent rally. The Nifty Metal index was the worst hit among sectoral indices, falling over 3% in latest trading. According to Informist Media, Hindustan Zinc was the worst hit in the Nifty 200 index, declining over 6%, while National Aluminium Co. fell 4-5%. Other major metal companies including Jindal Steel, NMDC, Vedanta, and Hindustan Copper were down 4% in the Nifty 500 index. Technical analyst Anshul Jain at Laxmi Shri Securities attributed the decline to profit-booking after the sector's recent strong performance.
Shares of Signature Global, the Gurugram-based real estate firm, extended their decline and became the worst performer in the Nifty 500 index, falling over 7% amid continued heavy trading volumes. According to Upstox reports, trading volume in Signature Global had earlier jumped by 15 times to 34.37 lakh shares as against an average trading volume of 2.34 lakh shares. The stock hit an intraday low of ₹951.50 as selling pressure persisted.
