Trading Activity and Price Movements
On 15 Dec 2025, Refex Industries opened at ₹215.1, marking a 15.61% decline from its previous close of ₹254.9. The stock touched an intraday low at the same level of ₹215.1, establishing a new 52-week low. However, it also reached a day high of ₹263.9, reflecting a wide trading range of ₹34.65 within the session. The last traded price (LTP) stood at ₹257.5 as of 09:43:46, indicating some recovery from the day’s low.
The weighted average price for the day was closer to the low end of the range, suggesting that the bulk of trading volume occurred near the lower price levels. This pattern often indicates selling pressure or cautious accumulation by investors at depressed prices.
Volume Surge and Market Liquidity
Refex Industries witnessed a total traded volume of 9,139,763 shares, translating to a traded value of approximately ₹219.62 crores. This volume is significantly higher than the stock’s recent averages, with delivery volume on 12 Dec 2025 rising by an extraordinary 1854.58% compared to the five-day average delivery volume, reaching 27.87 lakh shares. Such a surge in delivery volume points to increased investor participation and potential accumulation or distribution activity.
Liquidity remains adequate for sizeable trades, with the stock’s liquidity supporting trade sizes up to ₹1.03 crore based on 2% of the five-day average traded value. This level of liquidity is crucial for institutional investors and traders seeking to enter or exit positions without causing excessive price disruption.
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Volatility and Moving Averages
The stock exhibited high intraday volatility of 5.48%, calculated from the weighted average price, underscoring the intense price fluctuations experienced during the trading session. Refex Industries is trading below its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This positioning suggests that the stock remains under pressure in the short to long term, reflecting cautious sentiment among market participants.
Sector and Market Context
Refex Industries underperformed its sector on the day, with a one-day return of 0.82% compared to the sector’s negative return of -0.38%. The broader Sensex index also recorded a decline of -0.49% during the same period. This relative outperformance, despite the stock’s opening gap down and volatility, may indicate selective buying interest or speculative trading activity focused on Refex Industries.
Investor Participation and Delivery Volumes
The surge in delivery volumes over recent sessions signals rising investor engagement. Delivery volume is a key indicator of genuine buying or selling interest, as it reflects shares actually transferred to investors rather than intraday speculative trades. The sharp increase in delivery volume on 12 Dec 2025 suggests that investors may be accumulating shares at lower price levels or repositioning ahead of anticipated developments.
Price Trend and Reversal Signals
After three consecutive days of price declines, Refex Industries recorded gains on the day, hinting at a potential trend reversal or at least a pause in the downtrend. However, the wide intraday price range and the weighted average price being closer to the low indicate that selling pressure remains significant. Market participants will likely watch subsequent sessions closely to confirm whether this recovery sustains or if further declines ensue.
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Market Capitalisation and Industry Positioning
Refex Industries is classified as a small-cap company with a market capitalisation of approximately ₹3,524.23 crores. Operating within the Other Chemical products industry, the company faces sector-specific challenges and opportunities that influence its stock performance. The chemical sector often experiences volatility linked to raw material costs, regulatory changes, and demand fluctuations, all of which can impact investor sentiment.
Implications for Investors
The exceptional volume and volatility observed in Refex Industries suggest heightened market attention and potential repositioning by investors. The stock’s trading below all major moving averages and the establishment of a new 52-week low indicate that caution remains warranted. However, the recent uptick after multiple days of decline and the surge in delivery volumes may be early signs of changing market dynamics.
Investors should monitor upcoming sessions for confirmation of sustained buying interest or further distribution. The wide intraday price range and volume concentration near the lows highlight the importance of careful entry and exit strategies in this stock.
Conclusion
Refex Industries’ trading activity on 15 Dec 2025 underscores a complex interplay of volatility, volume surges, and sector underperformance. While the stock experienced a sharp opening gap down and touched a new 52-week low, the high volume and delivery figures point to significant investor participation. The stock’s position below key moving averages and the broader market context suggest that it remains under pressure, but the recent price gains after consecutive falls may indicate tentative recovery attempts.
Market participants should continue to analyse volume patterns, price action, and sector trends to gauge the stock’s near-term trajectory. Given the liquidity and trading interest, Refex Industries remains a stock to watch closely within the Other Chemical products sector.
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