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Last Updated : May 12, 2020 03:06 PM IST | Source: Moneycontrol.com

D-Street Buzz: Telecom stocks rally led by Bharti Airtel; RIL most active, volumes surge 168%

Stocks which moved the most with respect to volumes included Vodafone Idea where 35,98,93,279 shares were traded followed by Vedanta, Tata Motors, ICICI Bank, State Bank of India, ICICI Bank and Reliance Industries.

Representative Image
Representative Image

The Indian stock market continues trading in the red but has regained some lost ground with Sensex is down 123.10 points or 0.39% at 31438.12, and the Nifty down 25.85 points or 0.28% at 9213.35.

Experts feel the index can fall up to 8,800 and if that also breaks in coming days, then there could be sharp selling pressure.


Among the sectors, Nifty Energy is down almost a percent dragged by Reliance Industries which shed over 3 percent followed by GAIL India and ONGC.

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RIL witnessed spurt in volume by more than 2.50 times and was trading with volumes of 2,530,267 shares, compared to its five day average of 967,447 shares, an increase of 161.54 percent.

Among the banking names, Kotak Mahindra Bank shed over 3 percent while Bandhan Bank, HDFC Bank and Federal Bank were the other losers.

Over 300 stocks hit lower circuit on BSE including names like AU Samll Finance Bank, Mahindra CIE, IIFL Holdings and Avas Financiers among others.

Stocks which moved the most with respect to volumes included Vodafone Idea where 35,98,93,279 shares were traded followed by Vedanta, Tata Motors, ICICI Bank, State Bank of India, ICICI Bank and Reliance Industries.

India VIX is marginally up 0.05 percent at 38.06 level.

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Telecom stocks are trading on a handsome note with Bharti Airtel jumping over 4 percent followed by Vodafone Idea which spiked over 7 percent while Bharti Infratel and Tata Communications are the other gainers.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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First Published on May 12, 2020 03:06 pm
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