Based on Volume Momentum on Nifty Index Stocks
The week saw Nifty largely remaining on the growth trajectory, as a result most of the stocks witnessed spike in volumes which was followed by increase in prices. Out of top ten volume momentum stocks eight stocks were from Nifty500 Index and one each from Nifty50 & Nifty250.
Top ten volume momentum stocks during last week were from varied sectors, textiles, media & entertainment, fertilizers, chemicals and financial services.
Himatsingka Seide (NSE: HIMATSEIDE) was the topmost volume momentum stock, it gained 5600% during last five trading sessions. The stock witnessed both spike in volumes as well as its price, HIMATSEIDE stock price rose by 38%. Trident (NSE: TRIDENT) was another stock which witnessed over 800% spike in its volumes during last five trading sessions and its stock price jumped by 26% during last week.
Can Fin Homes Ltd (NSE: CANFINHOME) and Karnataka Bank (NSE: KTKBANK) were two financial services stocks in top ten, CANFINHOME stock saw over 900% spike in the volumes though in terms of price returns the stock gained only 3% during the week. Similarly KTKBANK despite the volume surge throughout the week witnessed price gains of only 4%.
INOX Leisure (NSE: INOXLEISUR) and PVR (NSE: PVR) were two entertainment stocks that made it to the top ten list. Both of these stocks witnessed positive momentum in volumes as well as prices. INOXLEISUR witnessed over 800% spike in the volume resulting in positive price momentum and by end of the week stock had witnessed 13% jump in the prices. Similarly PVR witnessed 21% spike in the prices.
DCW Ltd (NSE: DCW) was the only stock in the list with negative price momentum with surge in the volumes. DCW stock declined by 2% during the week.
Gujarat State Fertilizers & Chemicals (NSE: GSFC) was the stock that witnessed only 356% spike in the volumes during last five trading sessions but managed to deliver 15% spike in the price of the stock.