Ramkrishna Forgings, Iris Clothings, Mastek, Muthoot Fin: Stocks that are seeing a spurt in volumes today

With the benchmark equity indices trading lower during the intraday period on Wednesday, April 9, some of the stocks witnessed a spurt in their trading volume.

The Indian stock market remained under pressure as trade war concerns kept investors worried. The Reserve Bank of India’s (RBI) repo rate cut by 25 basis points helped SENSEX and NIFTY50 to recover from the day’s low.

At 2:20 PM, the NSE NIFTY50 index was trading at 22,405.95 levels, falling 129.90 points, or 0.58%, while the BSE SENSEX was down 360.89 points, or 0.49%, at the 73,866.19 level.

The top losing scrips on the 50-share index were Wipro, Trent, Larsen & Toubro, State Bank of India and Tech Mahindra, sinking as much as 4.47% on NSE.

The top 10 stocks witnessing a spurt in their trading volumes included Ramkrishna Forgings, Angel One Mutual Fund, Iris Clothings, Kaya Limited and Mastek Limited.

Ramkrishna Forgings counter witnessed the highest trading volume. The number of shares that changed hands on the stock was over 33.88 times higher than the daily trading volume on the counter. The scrip was trading up 2.78%.

The counter of Angel One Mutual Fund marked 22.03 times higher trading volume than the daily average, while the Iris Clothings counter saw 15.18 times higher trading volume than the daily average.

Further, Kaya Limited, Mastek Limited and Jyothy Labs counters were also seeing higher trade volumes by 14.12, 13.82 and 13.82 times the daily average.

Shares of Mastek soared 14.26% at ₹2,255.45 apiece on the NSE. The company is slated to unveil its financial results for the March 2024 quarter (Q4 FY25) on April 18.

Counters of Silly Monks Entertainment and Mirae Asset Mutual Fund – Mirae Asset Nifty Bank ETF were also witnessing 12.02- and 11.42-times higher volume than the daily average, respectively. This is the second day Silly Monks is marking higher trading volumes.

A volume in the stock volume is the number of shares traded in a specific period. A spurt in volume means the stock is witnessing a lot of interest or activity happening around the equity market.

Aditya Birla Sun Life Nifty Bank ETF and Muthoot Finance counters were also seeing higher volumes by 8.62 and 8.57 times the daily average, respectively.

Muthoot Finance shares slumped 10 as RBI said it will issue guidelines on gold loans soon. At the time of writing this, the share was trading at ₹2,166.50 apiece, declining 5.5% on the National Stock Exchange.