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  5. After a healthy correction in the Indian equities, five stocks from the Nifty 500 saw the highest volume in the month of November

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After a healthy correction in the Indian equities, five stocks from the Nifty 500 saw the highest volume in the month of November

Upstox
By Upstox News Desk

4 min read | Updated on December 04, 2024, 10:28 IST

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SUMMARY

In November 2024, NIFTY50 fell 0.31%, marking its second consecutive monthly loss amid weak Q2 earnings and persistent outflow by FIIs. The total trading volume of NIFTY50 hit ₹6,12,645.3 crore. Among the Nifty 500 index constituents Vodafone Idea, Yes Bank, Suzlon Energy, Zomato, and Jaiprakash Power Ventures saw the highest activity in November.

Stock list

IDEA
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YESBANK
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SUZLON
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ZOMATO
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JPPOWER
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stock trading (2) (1).webp

After a healthy correction in the Indian equities, five stocks from the Nifty 500 saw the highest volume in the month of November

In the month of November, the NIFTY50 experienced volatility due to stretched valuations, weak Q2 earnings, and foreign investor selloffs. Global headwinds, including geopolitical tensions and elections, added uncertainty. The index ended the month down 0.31%, marking its second consecutive loss but the smallest monthly drop in 2024. NIFTY50 touched a 5-month low, while the India VIX surged.

After Donald Trump's U.S. presidential election win, a ray of optimism arose in the market. Still, on the domestic front, cool-off in the economy's leading indicators and the outcome of the state elections kept market participants sceptical. Domestic institutional support helped to limit the losses, with the NIFTY50 index closing green on 8 of 20 trading sessions.

Regarding volume, NIFTY50 had 588.77 crore shares exchanged by traders and investors in November 2024, with a total monthly turnover of ₹ 6,12,645.3 crore. In 2024, the highest trading volume was recorded in June, with more than 776 crore shares exchanged.

Trading volume measures market participation and conviction, with higher volume generally indicating more robust support for price movements. Rising prices with increasing volume typically signal a strong uptrend, while falling prices with rising volume suggest downward solid pressure. While prices rise, the declining volume suggests a weakening trend and an increased likelihood of reversal.

Following are the five stocks that saw highest trading volumes in November 2024

Vodafone Idea Ltd

The stock of Vodafone Idea jumped 2.96% with a volume activity. Around 1,125.49 crore shares were exchanged on NSE in the month of November, exceeding the 20-day average of 987 crore equity shares. The total trading turnover for the stock of Vodafone Idea was ₹8,71,251 crore for November. On November 26, the Indian government approved waiving bank guarantees for telecom operators for spectrum bought before 2022. Vodafone owes over ₹24,700 crore (nearly $3 billion) in bank guarantees, easily the highest among the three major telcos.

Yes Bank Ltd

The stock fell over 2.16% on heavy volumes last month. Around 141.93 crore shares were exchanged on NSE in monthly deals, exceeding the 20-day average of 404 crore equity shares. Yes Bank recorded a sharp rise in its consolidated net profit to ₹533 crore in the fiscal second quarter that ended September 30, against ₹229 crore a year ago. Earnings per share grew to ₹0.18 from the year-ago period of ₹0.08. Interest earned by the lender in fiscal Q2 also climbed to ₹7,737 crore from ₹6,714 crore a year earlier. The total trading turnover for the stock of Vodafone Idea was ₹2,836.50 crore for November.

Suzlon Energy Ltd

The stock fell over 5.93% on heavy volumes last month. Exactly 149.79 crore shares were exchanged on NSE in November-month deals. The total trading turnover for Vodafone Idea was ₹9,366.17 crore for November. The shares of Suzlon Energy rebounded from the level ₹53.45 in November, where 31 block deals happened at a premium of 2.7%-5%, to ₹62.22 and around 3.41 crore shares were exchanged.

Zomato Ltd

Zomato shares soared more than 16% with a volume spurt in November. Around 105.77 crore shares were exchanged on NSE but remained below the 20-day average of 131 crore equity shares. The total trading turnover for the stock of Zomato was ₹28,189.47 crore for November. BSE said that SENSEX will add Zomato to the index from December 23 and drop JSW Steel. Separately, Zomato received shareholders' approval to raise ₹8,500 crore($1 billion) through qualified institutions' placement. Recently company said its step-down subsidiary Zomato Internet has been liquidated.

Jaiprakash Power Ventures Ltd

The stock of Jaiprakash Power Ventures shares consolidated around ₹18.5 mark with a large volume in November. Around 97.98 crore shares were exchanged on NSE but remained below the 20-day average of 165 crore equity shares. The total trading turnover for the stock of Zomato was ₹1,73,469 crore for November. In Q2 FY25, Jaiprakash Power Ventures reported a three-fold rise in its consolidated profit after tax to ₹182.66 crore on account of lower expenses. It had posted a PAT of ₹68.66 crore in Q2 FY24. Total income decreased to ₹1,305.19 crore from ₹1,359.23 crore a year ago. The company reduced its expenses to ₹1,070.76 crore from ₹1,172.02 crore in the same quarter a year ago.

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