Mumbai: Indian stock markets declined on Monday, April 13, after a strong rally last week. The Nifty 50 dropped nearly 2 percent to an intraday low of 23,555.
The fall came after US-Iran talks failed and tensions increased in West Asia. News of a possible US naval blockade also impacted investor sentiment.
Heavy selling across sectors
The selling pressure was seen across sectors. Banking, financial, auto, FMCG and IT stocks fell more than 1 percent each.
Mid-cap and small-cap stocks were hit harder, falling over 2 percent. This shows that the weakness was broad-based and not limited to a few sectors.
Most traded stocks on NSE
Despite the fall, trading activity remained high. Several stocks saw heavy volumes on the NSE.
Key names included Vodafone Idea, Ola Electric Mobility, Filatex Fashions, Jaiprakash Power Ventures, Suzlon Energy, Reliance Power, Adani Power, NTPC Green Energy, HFCL and PC Jeweller.
Other active stocks were YES Bank, Nippon India ETF Gold Bees, Enviro Infra Engineers, HCC and Dharan Infra-EPC.
Vodafone Idea leads in volume
Vodafone Idea was the most traded stock of the day. More than 27 crore shares were traded.
The stock rose around 1 percent despite weak markets. It has also gained about 9 percent so far in April, showing steady buying interest.
Ola Electric sees sharp fall
Ola Electric Mobility also saw high activity, with over 24 crore shares traded.
However, the stock fell nearly 8 percent during the session. This comes after a strong rally earlier, where it had gained over 79 percent in April.
Filatex and JP Power gain
Filatex Fashions saw strong buying, with over 11 crore shares traded. The stock rose 5 percent and hit its upper circuit. It has gained 57 percent this month.
Jaiprakash Power Ventures also gained over 3 percent, with more than 9 crore shares traded. The stock is in focus due to ongoing legal developments.
Suzlon Energy also active
Suzlon Energy saw more than 9 crore shares traded and gained over 2 percent.
The company recently approved allotment of 6.57 lakh shares to employees under its ESOP 2022 plan, which kept investor interest high.
Disclaimer: This article is for informational purposes only and not investment advice. Stock market investments involve risks. Readers should consult certified financial advisors before making any investment decisions based on this information.
