Omaxe shares surge 17% in a day and 31% in a week— why its trading volume on a rise

The Indian stock market witnessed a remarkable surge in the stock of Omaxe, the Delhi-based real estate developer, on September 27, 2023. With a staggering 17 percent gain in a single trading day, Omaxe investors had every reason to rejoice. However, what truly caught the attention of market observers was not just the surge in stock price but the sheer volume of trading that accompanied it. In fact, throughout the week, Omaxe had been on an upward trajectory, posting an impressive 40 percent gain in just a few days.

One of the most striking aspects of Omaxe's recent performance was the unusually high trading volumes it experienced. Trading at 3.5 times the average volume, this real estate company had certainly piqued the curiosity of both seasoned investors and new entrants in the stock market. Such an exceptional surge in volume clearly indicated a growing interest in Omaxe.

The National Stock Exchange (NSE) bore witness to a massive movement in terms of turnover as well. On September 27, 2023, Omaxe recorded a turnover of approximately Rs 45.5 crore. This staggering figure was a substantial increase from the previous day when the turnover stood at a comparatively modest Rs 20 crore. It is worth noting that this upward trend in turnover had been consistent over the past few trading sessions, further solidifying Omaxe's position as a stock to watch.