On Tuesday, November 12, 2024, the Nifty Index experienced a sharp fall, with the index plunging by 257.8 points. Opening at 24,225.4, it briefly touched a high of 24,242 before dipping to a low of 23,839. The index closed at 23,883, reflecting a loss of 257.8 points from the previous close.
This fluctuation indicates strong bearishness and rapid selling, showcasing investor sentiment shifts amid economic or geopolitical developments that impacted the index’s performance during the day. However, even amid this strong bearishness, certain stocks hit the upper circuit.
1. Smart Finsec Ltd.
Day Change: Smart Finsec Ltd. saw a substantial price movement on Tuesday, November 12, 2024, with a 19.98% increase in stock price. The stock opened at ₹20.62, reaching a high of ₹24.74, reflecting a gain of ₹4.12 from the previous close. The stock closed at ₹24.74. The trading volume was high, with 327,745 shares changing hands, signaling strong investor interest and high liquidity for the day. This significant rise marks a 5-year high for the stock, driven possibly by news related to the company’s upcoming board meeting.
2. Regent Enterprises Ltd.
Day Change: Regent Enterprises Ltd. experienced a robust 19.96% surge in stock price on Tuesday, November 12, 2024. The stock opened at ₹5.66, reaching a high of ₹6.79, reflecting a gain of ₹1.13 from the previous close. The stock closed at ₹6.79. The trading volume was exceptionally high, with 468,094 shares changing hands, indicating strong market interest. The positive movement in stock price is likely attributed to developments such as the upcoming board meeting, which can often spark investor optimism and activity.
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3. Superior Finlease Ltd.
Day Change: Superior Finlease Ltd. saw a notable 19.61% increase in its stock price on Tuesday, November 12, 2024. The stock opened at ₹1.53, reaching a high of ₹1.83, reflecting a gain of ₹0.30 from the previous close. The stock closed at ₹1.83. The trading volume was 35,218 shares, indicating moderate investor activity. The price surge is likely driven by news of the company’s upcoming board meeting, although the lower volume compared to other stocks suggests a more cautious market response.
Conclusion
Despite the Nifty’s significant decline of 257.8 points on November 12, 2024, several small-cap stocks demonstrated remarkable resilience by hitting their upper circuits. Smart Finsec Ltd led the pack with a 19.98% gain and robust trading volume of 327,745 shares, reaching a 5-year high at ₹24.74. Regent Enterprises followed closely with a 19.96% surge, supported by a high trading volume of 468,094 shares, while Superior Finlease rose 19.61% with moderate trading activity. These stocks’ strong performance amid broader market weakness suggests investor optimism around upcoming board meetings and company-specific developments.
Written By: Dipangshu Kundu
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