Stock market highlights: India Cements, Jyoti CNC, Vijaya Diagnostic sees sharp rise amid market fall

NIFTY and SENSEX traded lower for the 10th straight day on Tuesday, reacting to a fall in global markets amid a rise in trade tensions after US President Donald Trump confirmed that his 25% proposed tariffs on Canada and Mexico are here to stay.

Despite the broader market fall, shares of a few companies posted a sharp recovery in Tuesday’s trade in the range of 5-15%.

Among the top gainers was Jyoti CNC Automation, which surged as much as 14.5% to ₹885 apiece on the National Stock Exchange of India (NSE). The midcap capital goods company had faced a notable decline in its stock performance in the past one month, falling as much as 33% between February 7 and March 3. However, the company’s strong financials and capex plans triggered bargain-hunting on the counter, leading to a sharp recovery in the share price.

Other notable gainers were shares of Vijaya Diagnostic Centre, which rose as much as 11.4% to hit day high of ₹1,072 apeice, and India Cements, which gained over 14%. Alembic Pharmaceuticals was up 9.1% to hit day high of ₹812.5 per share, and air-conditioning company Blue Star Ltd jumped 9%.

Some small-cap stocks also surged in trade today after being battered over the past few weeks. Alok Industries Ltd was up 7.5%, Deepak Fertilisers and Petrochemicals Corporation Ltd jumped 6.6%, Bharat Dynamics was up 5.6%, and Jupiter Wagons Ltd gained 4.9%.

Stocks of some public sector companies bounced back as well, including Union Bank of India and Hindustan Aeronautics, which were up 4% each and Hindustan Petroleum Corporation rose up to 3.5%.

High-volume buzzers

Some of the stocks witnessed a significant rise in volume in today’s trading session. Data showed that the number of shares that changed hands on the India Cements counter was over 7.7 times higher by noon on Tuesday compared with its daily average.

Similarly, volumes at the Schaeffler India Ltd counter were 6.4 times higher than the daily average. The stock also surged 6% in trade on Tuesday.

Volumes in Jyoti CNC Automation, Alembic Pharma and Alok Industries were also more than thrice their daily average, fuelling the increase in their share prices.