Volume shocker stocks today: Stocks such as Innovassynth, RIR Power, Pashupati Cotspin, and Zydus Wellness surged in morning deals on Monday, 7 September, amid a spurt in volume.
Innovassynth Technologies’ share price hit its 52-week high and the upper circuit at ₹142.65, with volume surging more than 10 times.
RIR Power Electronics shares surged almost 20%, with volume surging by more than 1.13 times.
Pashupati Cotspin share price surged 14% with volume surging by more than 1.69 times.
Zydus Wellness share price jumped nearly 10%, with a strong spurt in volume by more than 10.59 times.
Stock market today
The Indian stock market witnessed selling in the morning deals, with the benchmark Sensex falling nearly 300 points, or 0.40%, amid a rise in crude oil prices and weak global cues. Infosys, Tata Steel, HCL Tech, Tech Mahindra, SBI, and Kotak Mahindra Bank were among the top losers in the Sensex index around 10 AM.
Meanwhile, ver 130 stocks hit their lower circuits on the BSE by 10 AM.
Weak Wall Street cues, fear of a rate hike in the US, and uncertainty in the Middle East may lead to further consolidation in stocks when markets open for trade on Monday. For the next couple of weeks, participants may watch out for SEBI’s review of CAS closing, US Fed meet outcome and developments in the Middle East,” said Vikram Kasat, Chief Business Officer – Advisory and Dealing at PL Capital.
“The most desirable outcome of the said moniterables will be the Fed leaving the rates unchanged and some kind of relief from the Middle East in terms of the restart of peace talks. Market is waiting for some strong positive news flows to break out from a multi-week consolidation,” said Kasat.
On the technical front, the Nifty 50 formed a small bearish candle with an upper shadow last Friday, as it faced resistance near the crucial 24,000 level.
Axis Securities highlighted that the index remained within Wednesday’s high-low range, indicating a lack of clear direction and continued consolidation.
“Nifty is trading within a falling channel formed since 3rd August, while holding above the 23,800 zone. This support also aligns with the lower band of the bullish gap formed on 27th July and the lower band of the falling channel,” Axis Securities said.
“For a bullish reversal, Nifty needs to decisively close above the upper band of the falling channel near 24,200. For today, a breakout above 24,000 could open the way towards 24,100 and 24,200, while 23,900 and 23,800 will act as key support zones,” said Axis Securities.
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