Despite Market Crash on Friday three shares delivered 13%-28% Price Gain
Week of Feb24-28 saw high volume trading in number of stocks listed on NSE which resulted in number of stocks gaining high volume momentum. All the shares in top ten have risen more than 1000% not only during last week but also during the fortnight.
Despite the fact Indian capital markets crashed during the week and most of the index shares were in deep red three of the shares in top ten volume momentum managed to deliver positive price gains.
All the listed in top ten had average trading volume of less than 100K before the fortnight, some of them traded less than 1000 shares a day two weeks earlier.
Gayatri Projects Ltd (NSE: GAYAPROJ), UTI MF NIFTY NEXT 50 ETF (NSE: UTINEXT50) and 21ST CENTURY Management Services (NSE: 21STCENMGM) were top three volume momentum shares during last week’s trading and all of them witnessed decline in the price during the week.
DIC India Ltd (NSE: DICIND), ABSL MF ET, BASF India Ltd (NSE: BASF), Sundaram-Clayton Limited, Orient Press Ltd (NSE: ORIENTLTD), Gallantt Ispat Limited and Supreme Petrochem Ltd were other seven stocks in the top ten volume momentum shares, out of these only three had positive price momentum rest four of them witnessed decline in their stock prices.
DIC India Ltd (NSE: DICIND), BASF India Ltd (NSE: BASF) and Orient Press Ltd (NSE: ORIENTLTD) were the three shares which gained price during the week. Orient Press Ltd (NSE: ORIENTLTD) witnessed highest price increase during the week, the stock grew by 28% during the week. BASF India Ltd (NSE: BASF) was close with 27% price gain during the week and Orient Press grew by 13% during the week.