Vodafone Idea, Suzlon, Meesho, and JP Power See High Trading Activity
Market Slumps on Global Concerns, Domestic Stocks Witness Heavy Trading
The domestic stock market suffered a significant downturn on Thursday, 30 April, with the benchmarks crashing over 1% and the overall market capitalisation of BSE-listed firms dropping by ₹9 lakh crore during the session. The Sensex plummeted over 1,200 points, or more than 1.5%, while the Nifty 50 crashed more than 350 points, or over 1.5%, intraday.
The fragile sentiment was primarily driven by a sharp jump in crude oil prices, the rupee's fall to a record low against the dollar, stalled US-Iran talks, and massive foreign capital outflow. These factors collectively weighed heavily on investor sentiment, leading to a market-wide sell-off.
Most Traded Stocks of the Day
The following stocks witnessed significant trading activity on the NSE, with Vodafone Idea, Suzlon Energy, and Meesho being the most active in terms of volume:
| Stock | Volume (shares) | Change in Price |
|---|---|---|
| Vodafone Idea | 23 crore | -3% |
| Suzlon Energy | 6 crore | -3% |
| Meesho | 6 crore | +10% |
Other notable stocks that were actively traded on the NSE include Eternal, Reliance Power, YES Bank, Ola Electric Mobility, Tata Gold Exchange Traded Fund, HCC, Shree Renuka Sugars, Bajaj Hindusthan Sugar, Syngene International, Sammaan Capital, Indiabulls, Tata Silver Exchange Traded Fund, and Cemindia Projects.
In terms of individual stock performance, Vodafone Idea saw over 23 crore shares change hands as the stock declined nearly 3% during the session. The telecom stock has seen a healthy gain of more than 19% in April. Suzlon Energy, on the other hand, witnessed more than 6 crore shares changing hands as the stock declined more than 3% during the session. Suzlon shares have seen stellar gains of 40% in April after suffering losses for the last five consecutive months. Meesho, despite the stock market selloff, surged more than 10% after JP Morgan initiated coverage with an 'overweight' rating and a target price of ₹215, according to media reports.
Investor Takeaway
Investors should be cautious and consider diversifying their portfolios due to the fragile market sentiment.
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