SMC Capitals Equity Head Jagannadham Thunuguntla said, "Today's market movement was more about volatility and volume. Traders came with a vengeance as they did not get a chance to participate in yesterday's rally. Though the market is appearing to be stable, there is huge difference in terms of stock level."

1. Volatility continues in stock market
MUMBAI, May 19 (PTI): The stock market today scripted a new history, with the benchmark
Sensex traversing a path of over 3,000 points, though the movement was not uni-
directional like yesterday’s historic 2,111-point rally.
Making a sort of record in terms of volatility, the Bombay Stock Exchange’s Sensex began
the day with a gain of 473.61 points, but lost over 900 points minutes later.
Re-emergence of buying at lower levels of the market again pushed the market and the
Sensex rose to the day’s high of 14,930.54 points by early afternoon.
In this process, it gained close to 1,100 points from the day’s low of 13,834.13 points.
However, investors could not resist booking profits at such high levels — especially after a
record single-day rally of 2,111 points yesterday — and the benchmark index finally closed
the day at 14,302.03 points.
The closing level of the Sensex represented a fall of over 600 points from its intra-day high,
although it closed with a gain of 17.82 points since its yesterday’s close.
At the end of the day, the Sensex recorded a movement of over 3,000 points — first a rise
of about 500 points in opening trade, then a fall of over 900 points in early morning trade,
again a rise of over 1,100 points to its intra-day high level by early afternoon and finally a
fall of over 600 points till the closing bell.
“Volatility comes before the dust settles down. It will take some time before normalcy
returns to the market. Besides, volatile sentiments are likely to stay till May 28, the
settlement day for futures trading,” domestic brokerage firm SMC Global Vice President
Rajesh Jain said.
Heavy volatility was witnessed after a historic day yesterday which saw the bellwether index
surging by 2,110.79 points triggering two circuit filters, pursuant to which trading was
halted for the day.
Jain further said that “the IT index today took a beating after the way rupee had moved
yesterday, recording its highest -ever rally in a single day, while the banking index was
trading with gains. This lead to heavy volatility on the bourses today.
SMC Capitals Equity Head Jagannadham Thunuguntla said: “Today’s market
movement was more about volatility and volume. Traders came with a vengeance as they
did not get a chance to participate in yesterday’s rally. Though the market is appearing to
be stable, there is huge difference in terms of stock level.” The Sensex today swung
between 14,930.54 and 13,834.13.