Vodafone Idea, GTL Infra, YES Bank, OnEMI Tech, Lenskart, MRPL Among Top Traded Stocks on NSE

Market Sentiment Takes a Hit as Global Cues Weigh on Domestic Market

The domestic market experienced a downturn on Friday (8 May) due to weak global cues, a rebound in crude oil prices, and the escalation of the Middle East conflict. The Nifty 50 plummeted by more than half a per cent, falling below 24,150, while the 30-share pack Sensex declined by approximately 600 points in the first half of the session.

Market analysts point out that the ongoing crisis in West Asia has led to a volatile market trend, with some markets thriving while others struggle. Despite the geopolitical tension, certain markets have managed to perform relatively well.

Most Traded Stocks on the NSE

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The following stocks were among the most traded on the National Stock Exchange (NSE) on Friday:

Other notable stocks that were actively traded on the NSE include NBCC (India), HFCL, Suzlon Energy, Jaiprakash Power Ventures (JP Power), Sagility, MIRC Electronics, IFCI, Shipping Corporation of India, Meesho, HCC, and RattanIndia Power.

Notable Developments

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Vodafone Idea saw a significant increase in trading volume, with more than 32 crore shares changing hands. The stock climbed 2% during the session, bringing its weekly gain to 12%. The government's reduction of AGR liability by approximately 27%, or ₹23,649 crore, has had a positive impact on the company's fortunes. Kumar Mangalam Birla was appointed as the non-executive chairman of the board of directors of Vodafone Idea on May 5.

GTL Infrastructure witnessed healthy buying interest, with over 8 crore shares changing hands. The stock declined by more than 3% during the session but has still managed to rise by 15% for the week.

YES Bank's trading volume was high, with over 5 crore shares changing hands. The stock declined by more than 1% during the session, despite the company announcing the allotment of 50,89,979 shares on May 7 under various employee stock option plans.

OnEMI Technology Solutions made a strong debut on the bourses, with its share price opening at ₹190 per share on the NSE, 11.11% higher than the issue price. The stock's trading volume was high, with over 4 crore shares changing hands.

MRPL's trading volume was also high, with more than 4 crore shares changing hands. The stock jumped 9% during the session, after falling 10% in the previous week.

Lenskart Solutions' trading volume was high, with over 4 crore shares changing hands. The stock declined by 3% amid the expiry of the company's 6-month shareholder lock-in and reports of a large block deal by existing investors.