Volume Momentum: Top Ten Shares with 1000%+ Rise in Volumes
Week of Feb17- 21 saw high volume trading in number of stocks listed on NSE which resulted in number of stocks gaining high momentum. Volume momentum of top ten stocks have delivered more than 1000% rise not only during last week but also during the fortnight.
Of the ten shares with highest volume gains half of them witnessed decline in price by end of the week and remaining all delivered positive price returns.
Wheels India (NSE: WHEELS) was the topmost share in terms of volume momentum, unfortunately it was negative momentum where stock was brutally sold during the week leading to 5% decline in prices from Rs 600 to Rs 568 by 20 Feb. Manugraph India (NSE: MANUGRAPH), Prabhat Dairy (NSE: PRABHAT) and Apollo Tyres (NSE: APOLLO) were other shares that also witnessed decline in share prices.
Orient Press Ltd (NSE: ORIENTLTD) was the second biggest volume momentum share followed by DCW Limited (NSE: DCW). Both ORIENTLTD and DCW witnessed huge rise in their trade volumes, ORIENTLTD saw 23,718% rise in volume while that of DCW was over 5000%. Both of these stocks were trading at less than 100K in terms of volume two weeks earlier. DCW saw 19% rise in its share price during last week and ORIENTLTD saw 13% rise in its share prices.
Max Financial Services Ltd (NSE: MFSL) was the only financial services scrip in the top ten volume momentum list. MFSL saw over 200% rise in its traded volume of shares during last week. Share prices of MFSL rose by 17% during last week. Nath Bio-Genes (I) Ltd (NSE: NATHBIOGEN) also witnessed over 2000% rise in its traded volume of shares during last week. NATHBIOGEN also saw spike in its share prices, it rose by 12% from Rs 318 to Rs 356 by end of the week.