Aavas Financiers, IndusInd Bank among active stocks as NIFTY50 rises for the 4th straight day

NIFTY50 and SENSEX rose for the fourth consecutive session on Monday, supported by firm trends in Asian markets. Benchmark indices were trading around 0.4% higher, respectively, continuing the positive trend witnessed in the markets last week. A fall in crude oil prices below $70 per barrel and a decline in Foreign Institutional Investor (FII) selling intensity have supported market sentiments.

Among other major movers were Godawari Power and Ispat Ltd (up 3.7%), Dr Lal Pathlabs Ltd (up 3.6%), Power Grid Corporation of India Ltd (up 3.5%), Nuvama Wealth Management Ltd (up 3.4%), Adani Energy Solutions Ltd (up 3.4%), DOMS Industries Ltd (up 3.4%) and Aster DM Healthcare Ltd (up 2.6%).

On the flip side, shares of JM Financials, Triveni Turbine, Anand Rathi Wealth and KEI Industries declined by 5 to 7% in today’s trading session.

High-volume buzzers

The two top gainers in terms of stock price – Aavas Financiers Ltd and Tata Teleservices (Maharashtra) Ltd – were also the stock counters that witnessed heaviest trading volumes on Monday.

According to data available on exchanges, the number of shares that changed hands on the Aavas Financiers stock counter by the early noon session was more than 10.5 times compared to the daily average.

Similarly, volumes on the Tata Teleservices counter were already more than twice the daily average by early noon on Monday.

Trading volumes in IndusInd Bank Ltd were also almost twice the daily average as the share price dropped almost 6%. The correction was triggered after the Reserve Bank of India (RBI) cut short the approval for the re-appointment of Sumant Kathpalia as the Managing Director and CEO of the bank for a period of one year instead of three years.