Market Movers: Here are today’s high-volume buzzers!

The Indian headline indices maintained their upward momentum, driven largely by telecommunications stocks which led the gains. The BSE Telecommunication Index, representing the telecommunication sector, saw a significant surge of approximately 4% today. The broader indices demonstrated strong performance, outpacing the main indices, with Vodafone Idea Ltd and Tejas Networks Ltd leading the gains in the BSE Midcap and BSE Smallcap Index, respectively.

At 10:30 am, the BSE Sensex gained 0.31% reaching a level of 73,878. The Nifty 50 index added 0.30% to the 22,403 level. On the Sensex, Bharti Airtel, Titan and HCL Technologies were among the top gainers, whereas Power Grid Corporation of India, Larsen & Toubro and ICICI Bank were among the market draggers.

Some of the noteworthy volume movers are as follows:

1. Tejas Networks Ltd
   

   Tejas Networks Ltd experienced a remarkable seven-fold increase in trading volume, indicating significant buying activity. Consequently, its shares hit the 20% upper circuit, reaching a new 52-week high of Rs 1,086.90 per share on the BSE. The company specializes in designing and manufacturing wireline and wireless networking products, emphasizing technology, innovation, and research and development (R&D).

2. ITI Ltd
   

   Today, ITI Ltd observed a five-fold surge in trading volume, propelling its shares to climb over 10% and reach an intraday high of Rs 312.95 per share on the BSE. The company is involved in the manufacturing, trading, and servicing of telecommunication equipment, along with providing associated and ancillary services.

3. Mahindra & Mahindra Financial Services Ltd
   

   Mahindra & Mahindra Financial Services Ltd faced significant selling pressure, leading to a decline of over 7%, reaching an intraday low of Rs 256.85 per share on the BSE. The company primarily operates as a non-banking financial company (NBFC), specializing in financing the purchase of new and pre-owned automobiles, utility vehicles, tractors, cars, commercial vehicles, construction equipment, and SME financing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.