Most traded stocks today: The Indian stock market resumed its downward march on Friday, March 6, with the Nifty 50 falling almost 1% to an intraday low of 24,575, and the Sensex falling over 600 points, or nearly 1%, to the day’s low of 79,395.
Persisting concerns over the and its macroeconomic fallout due to crude oil price surge are keeping investors nervous.
“As the war continues to rage and uncertainty looms large, markets will be influenced by the crude prices,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, noted.
Vijayakumar, however, added that even though crude has spiked by about 16% since the war began, this is not among the major spikes seen in crude during earlier geopolitical crises.
“This is a reflection of the potentially huge supply of oil available in the global market. Once the West Asian crisis de-escalates, crude prices will dip sharply, and markets will bounce back. Therefore, crude price will continue to influence the market in the near-term,” said Vijayakumar.
Vijayakumar believes that as long as Brent crude moves around $85 level, the market is unlikely to be impacted. On the other hand, if Brent prices spike above $90 and move towards $100, global markets will be affected.
Meanwhile, Vodafone Idea, Filatex Fashions, Tata Silver Exchange Traded Fund, Navkar Urbanstructure, Suzlon Energy, LT Foods, Reliance Power, Tata Gold Exchange Traded Fund, and YES Bank were the most traded stocks, or most active stocks in terms of volume, on the NSE.
Jupiter Wagons, Ircon International, Dharan Infra-EPC, IRFC, DCX Systems, Nippon India Silver ETF, NMDC, PC Jeweller, Ola Electric Mobility, Nippon India ETF Gold BEES, and Bharat Electronics (BEL) were also among the most traded stocks on the NSE.
Some top most traded stocks today
Nearly 18 crore shares of the telecom company has changed hands on the NSE by 11:30 am on Friday, as the stock gained more than 1% despite weak market sentiment, looking set to extend gains for the second consecutive session after media suggested that its licence fee liability could be slashed between 60-65% after a reassessment exercise conducted by the Department of Telecommunications (DoT).
Meanwhile, on March 4, the company said that ICRA had upgraded the credit rating and revised the outlook assigned to the long–term fund–based term loans from ‘stable’ to ‘positive’. The revised ICRA rating is ‘ICRA BBB’ with ‘positive’ outlook from ‘ICRA BBB-‘ with ‘stable’ outlook.
Nearly 6 crore shares had changed hands by 11:30 am, as the stock hit an all-time low of ₹0.19, falling 5%.
Over 3 crore shares of the company changed hands, as the stock hit an all-time high and lower circuit of ₹1.05 on the NSE, falling 5%.
More than 3 crore of the company changed hands, as the stock climbed nearly 2% in intraday trade on the NSE, looking set to extend gains for the second consecutive session.
Read all market-related news
Read more stories by
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.