Market Movers: Here are today’s high-volume buzzers!

Although today’s trading session began with optimism, the domestic indices later trimmed some of their initial gains, fluctuating between modest gains and losses. FMCG stocks led the gains, while power and metal stocks dampened the optimism with notable losses. A significant sell-off was evident in mid-cap and small-cap stocks.

At 10:30 am, the BSE Sensex edged down by 0.04% reaching a level of 73,640. The Nifty 50 index fell 0.21% to the 22,288 level. On the Sensex, ITC Ltd, Nestle India and ICICI Bank were among the top gainers, whereas Power Grid Corporation of India, NTPC and Tata Steel were among the market draggers.

Some of the noteworthy volume movers are as follows:

1. ITC Ltd

   Shares of ITC Ltd witnessed a surge in trading volume hundreds of times over and climbed more than 8% after British American Tobacco (BAT) launched a block deal to sell a 3.5% equity stake in the company to institutional investors for as much as Rs 16,775 crore. The company currently operates in several business segments, including FMCG cigarettes, FMCG others, hotels, paperboards, paper and packaging, and agri business.

2. Elpro International Ltd

   Elpro International Ltd recorded a 32-fold surge in trading volume, leading to a rally of over 6% in an otherwise sluggish market, reaching an intraday high of Rs 85.40 per share on the BSE. It is involved in the development of real estate properties, including residential complexes, schools, and malls. The company also manufactures arresters, surge protection devices, and metal oxide varistors.

3. Max Financial Services Ltd

   Shares of Max Financial Services Ltd experienced a 10-fold rise in trading volume but were trading slightly lower, reaching an intraday low of Rs 969.15 per share on the BSE. The company offers various insurance products, including traditional savings-cum-protection plans, unit-linked plans, pure protection plans, assured wealth plans, and smart term plans.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.