Deliverable volumes of select penny stocks zoom upto 94.51 per cent; what does it mean?

Indian markets witnessed a terrifying fall in the first half of the trading session on Friday and it looked like the benchmark indices were heading for their biggest single-day loss in recent times. However, during the second half of the trading session, there was a change in the fortune of the markets as market participants grabbed this opportunity with both hands and latched onto the stocks. As a result, markets registered a tremendous rebound from the lower levels and Nifty also reclaimed its 20-DMA.   

During this rebound, some of the stocks on D-Street grabbed investors’ attention and we saw a significant surge in their deliverable volumes. The delivery surge was so sharp in some stocks that a delivery volume of upto 94.51 per cent was witnessed.   

The delivery quantity is a significant indicator, which the market participants use for evaluating an investor’s interest in a stock. Delivery trades are taken with an intention of holding the position for more than a day, which can also be for a couple of days, a few months, or even for 2 years or so. By taking delivery of shares, the investors show their confidence in the stock's future prospects.   

So here is a list of penny stocks, which witnessed a surge in delivery on June 18, 2021 (Friday):