Nifty 50 Sees Strong Rebound After Three-Day Selloff

Market Update

The Nifty 50 index witnessed a significant rebound on Thursday, jumping 200 points (0.80%) to reach an intraday high of 24,673 by 11:30 am. This rebound is attributed to short covering after the market slipped into the oversold zone.

Market Drivers

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The intense selloff in the last three consecutive sessions can be attributed to various factors, including:

• Ongoing US-Iran war
• Spike in crude oil prices
• Rupee's weakness against the dollar
• Foreign capital outflow

Most Traded Stocks

The following stocks were among the most traded on the NSE on Thursday:

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• Vodafone Idea: Over 16 crore shares changed hands, with the stock declining by 0.5% despite positive market sentiment.
• Tata Silver Exchange Traded Fund: More than 6 crore shares changed hands, with the ETF declining by 1%.
• Filatex Fashions: Nearly 6 crore shares changed hands, with the stock crashing 5%.
• Tata Gold Exchange Traded Fund: Nearly 5 crore shares changed hands, with the ETF dropping 1%.
• Suzlon Energy: Nearly 4 crore shares changed hands, with the power stock declining 1%.

Weekly Performance

The following stocks have declined significantly on a weekly scale:

• Vodafone Idea: Down 6%.
• Tata Silver Exchange Traded Fund: Down 7.5% in the previous session.
• Suzlon Energy: Down 9% in the last four sessions.