The Indian equity markets traded mostly flat on Thursday afternoon, with the Sensex and Nifty holding steady in green territory. While the broader indices showed little momentum, the real excitement came from a handful of stocks that saw sharp swings during midday trade.
Among the biggest movers was the Bombay Stock Exchange stock, which fell sharply alongside other broker shares such as Angel One. Both saw declines of up to 7 percent in intraday trade. The fall came after comments from SEBI Chairman Tuhin Kanta Pandey, who suggested that the regulator may extend the tenure of equity derivatives contracts and also launch a regulated platform for pre IPO company information. These developments sparked concerns around revenue streams for exchanges and brokerages, as derivatives trading contributes heavily to their earnings.
Ola Electric also grabbed headlines as its shares declined by nearly 7 percent. The correction followed a massive 25 percent rally over the past two sessions, which was triggered by excitement around its Vision 2025 plan. Investors had pushed the stock higher after the company announced that it would integrate the 4680 Bharat Cell, India’s first indigenously developed lithium ion cell, into its electric two wheelers. Today’s dip reflected profit taking after the sharp run up.
Nazara Technologies continued to struggle as its stock extended losses from the previous day, when it fell by about 7 percent. The selling pressure came amid the tabling of the Online Gaming Bill in Parliament. Market experts believe the bill could have a direct impact on Nazara Tech’s Rs 830 crore investment in PokerBaazi, potentially forcing the company to reassess or even write off that investment. Analysts have already revised the company’s valuation targets lower, which added to investor concerns.
In contrast, Jupiter Wagons surged by more than 5 percent after securing a significant Rs 215 crore order for wheelsets that will be used in Vande Bharat trains. The order, which will be executed through a subsidiary, highlighted the company’s growing role in the railway sector and brought strong buying interest from investors.
Max Healthcare also saw positive momentum with a 2 percent rise. The optimism came from expectations that the stock could soon be included in the Nifty index during the next reshuffle in September. Market researchers noted that Max Healthcare, along with Indigo, may find its way into the index, replacing names like IndusInd Bank and Hero MotoCorp.
While the headline indices did not post major gains, the volatility in these individual stocks highlighted how sectoral news, regulatory announcements and order wins are driving investor sentiment. For traders and long term investors alike, today’s session showed once again that market action often lies beyond the index.
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