News and Views
Intraday Price Movements and Volatility
Mac Charles (India) Ltd's trading session on 02-Mar was marked by extreme volatility. The stock opened with a notable gap up of 10.56%, reaching an intraday high of ₹672.95. However, this early optimism was short-lived as the price plunged to an intraday low of ₹563, representing a 7.51% drop from the previous close. The wide trading range of ₹109.95 and an intraday volatility of 8.9% underscore the unsettled market sentiment surrounding the stock.
Despite the initial surge, the weighted average price indicates that a larger volume of shares exchanged hands closer to the lower end of the day's price range. This suggests that sellers dominated the session, exerting downward pressure on the stock price as the day progressed.
