Vodafone Idea, Groww, YES Bank, HFCL Among Most Traded Stocks on NSE Today

Indian Stock Market Continues Downward Trend

The Indian stock market experienced a fourth consecutive day of selling pressure on Tuesday, 12 May, with the Sensex and the Nifty 50 falling more than 1% each during the session. The market decline can be attributed to several key factors, including Prime Minister Narendra Modi's austerity call, stalled US-Iran peace talks, elevated crude oil prices, the rupee's fall to a record low, and massive foreign capital outflow.

As a result of these factors, the Sensex has crashed more than 2,800 points, a decline of 3.6% over the last four consecutive sessions, while the Nifty 50 has shed 3%. The most traded stocks on the NSE during this period included Vodafone Idea, Billionbrains Garage Ventures (Groww), Tata Silver Exchange Traded Fund, YES Bank, HFCL, Tata Gold Exchange Traded Fund, Suzlon Energy, GTL Infrastructure, Nippon India Silver ETF, and ONGC.

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The most traded stocks on the NSE today also included Lloyds Engineering Works, Jaiprakash Power Ventures, Nippon India ETF Gold Bees, Ola Electric Mobility, Vedanta, AvenuesAI, Paradeep Phosphates, PC Jeweller, Nippon India ETF Nifty IT, and Reliance Power. Among these, Vodafone Idea saw a significant decline of over 4% during the session, with over 64 crore shares changing hands. The telecom stock's decline came after it denied receiving communication on the Vodafone Group stake transfer plan.

Groww also experienced a decline of 7% during the session, with over 50 crore shares changing hands. The stock's decline was attributed to reports that existing investors sold 30.91 crore shares of the company. YES Bank, on the other hand, saw a decline of over 2% during the session, with more than 9 crore shares changing hands. In an exchange filing on 11 May, YES Bank said Moody's Investors Service had upgraded its ratings on the bank's long-term foreign currency issuer rating, long-term deposit rating, etc.

HFCL, however, rose more than 3% to hit its 52-week high of ₹153.55, with over 6 crore shares changing hands. In an exchange filing on 11 May, the company said it had secured export orders worth $19.32 million for the supply of optical fibre cables from renowned international customers.