Volume Momentum Index Shares with 400%+ Gains

Volume Momentum Index Shares with 400%+ Gains

High Volume largely corresponded to Selloff with only One Stock Delivering Positive Returns. The week of Mar 16-20 saw high volume trading in number of stocks listed on NSE which resulted in number of stocks gaining high volume momentum. All the Nifty Index shares in top ten have risen more than 400% during last week but also gained momentum during last two trading sessions. The top volume momentum index shares comprised largely of mid-caps.

top ten index shares volume momentumSource: NSE
Markets remained volatile throughout the week, the spike in volumes largely coincided with selloff in the market. As a result only one stock out of Top Ten Nifty Index shares witnessed price gain during the week.

Top ten comprises largely of Financial Services, Construction and Service sector stocks along with those of Industrial manufacturing. The list comprises mostly of Nifty 500 share which account for eight of the top ten shares, QUESS and THERMAX were only two shares from Nifty 250 index.

Indiabulls Housing Finance Ltd (NSE: IBREALEST) of Nifty 500 witnessed the highest spike in volumes during t he week, the share volume witnessed 78000% rise during the five days. DHFL at the bottom of the list witnessed around 500% spike in the volume during the week.

IBREALEST, JPINFRATEC and DHFL were the three stocks which were previously trading over million stocks per day before the spike in momentum. Four stocks had preceding volume range of 100K to 500K, RELIGARE, QUESS, OMAXE and FINCABLES.

ICRA, RELIGARE and DHFL were three financial services stocks and all of them witnessed fall in their prices, though ICRA witnessed least decline of just 4% during this period. ICRA witnessed its share price decline from Rs 2,300 in the beginning of the week to Rs 2,200 by 20Mar.

OMAXE LTD (NSE: OMAXE) was the only share which saw its stock price during the week with spike in trading volume of shares. OMAXE share price rose by 4% during the week from Rs 157 in the beginning of the week to Rs 163 by 20Mar.