NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%
NIFTY23,4060.33%
SENSEX74,3460.41%
BANKNIFTY54,1860.88%
NIFTY IT29,3845.57%
PHARMA24,0870.33%
AUTO26,0930.05%
FMCG48,1241.01%
METAL13,5350.17%
REALTY762.601.39%
ENERGY40,1970.02%

Market Volatility Continues Amid US-Iran Conflict

On Thursday, 16 April, the Indian domestic market benchmarks, the Sensex and the Nifty 50, witnessed high volatility in morning trade, reacting to news flows surrounding the US-Iran conflict. Expectations of a final resolution to the conflict have risen after reports suggested both countries are returning to negotiations, however, hostilities between them remain elevated.

According to news agency AFP, Iranian official Mohsen Rezaei has warned that if US forces invade the West Asian country, it would attack US naval ships enforcing a blockade in the Strait of Hormuz. The Nifty 50 opened 154 points higher at 24,385, hitting an intraday high and low of 24,401 and 24,198, respectively, during the session. By around 12 pm, the index was 27 points down at 24,204.

The most traded stocks on the NSE today included Vodafone Idea, Jaiprakash Power Ventures (JP Power), Ola Electric Mobility, Reliance Power, YES Bank, Suzlon Energy, Bharat Coking Coal, Tata Silver Exchange Traded Fund, and Firstsource Solutions. Other notable stocks among the most traded on the NSE were Billionbrains Garage Ventures (Groww), Gujarat Mineral Development Corporation, Adani Power, Tata Gold Exchange Traded Fund, Sadhana Nitrochem, PC Jeweller, HFCL, GTL Infrastructure, NLC India, Eternal, and HDFC Bank.

Read also: Expert Portfolio Manager Raja Venkatraman Names Top Investment Picks for June 4

StockNumber of Shares TradedPercentage Change
Vodafone Idea26 crore2%
Jaiprakash Power Ventures (JP Power)19 crore7%
Ola Electric Mobility15 crore2.5%
Reliance Power9 crore-1%
YES Bank9 crore4%

Vodafone Idea has been among the most traded stocks on the NSE for the last several days. By 12:15 pm on Thursday, over 26 crore shares of Vodafone Idea changed hands as the stock climbed more than 2% during the session, looking set to extend gains for the second consecutive session. So far in April, the stock has gained 11%.

Jaiprakash Power Ventures (JP Power) saw over 19 crore shares change hands, while the stock jumped nearly 7% during the session. The stock has seen strong gains of 40% so far in April after an 8% fall in March.

Ola Electric Mobility had more than 15 crore shares change hands as the stock rose by 2.5% during the session. The company on 13 April announced the launch of a new product, the S1 X+ 5.2 Kwh, powered by its indigenously developed 4680 Bharat Cell.

Read also: MarketSmith India's 4 June Stock Recommendations

Reliance Power had over 9 crore shares change hands as the stock slipped about 1% during the session, looking set to snap its three-day winning streak. The stock has surged 41% in April so far after falling for the last five consecutive months.

YES Bank saw more than 9 crore shares change hands, while the stock rose by 4% during the session. So far in April, the stock has gained 15%.

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