Even as the domestic equity bourses witnessed across-the- board selling in the last one week, market participants are a little puzzled over Akruti City, whose share price has managed to buck the trend and outperform the market.
During the last one week, the stock of Akruti City has surged higher by nearly 10.59% when the BSE Sensex was down by 6.36% and the BSE Realty Index lost 4.70%.
The stock is currently placed under ban in the NSE derivatives segment as it had crossed 95% of the market-wide position limit.
Since February 26, the stock counter of Akruti City has been witnessing huge volumes with its total daily traded volume surging five to ten times higher on the BSE. Market experts say that when the Indian realty sector is in a very bad shape with most of the realty stocks getting hammered on the equity bourses, the sudden rise in the prices of Akruti City with huge trading volume is surprising and worth investigating.