ETMarkets.com reported that Zee Entertainment Enterprises led four Nifty 500 stocks whose Oct. 28 closes exceeded their session volume-weighted average prices (VWAPs), with its reported close 2.5% above the benchmark.
An Oct. 29 slideshow listed Zee at ₹69.09 against a VWAP of ₹67.40. It gave Piramal Pharma at ₹232.80 versus ₹227.37, Affle 3i at ₹1,411 versus ₹1,381.94, and Reliance Power at ₹17.39 versus ₹17.04. Calculated from the figures in the report, the gaps were about 2.5%, 2.4%, 2.1% and 2.1%, respectively.
VWAP gives greater weight to prices where more shares changed hands during the session. The Nifty 500 includes large-, mid- and small-cap companies traded on the National Stock Exchange of India. Comparing a close with VWAP shows its position against that session’s volume-weighted benchmark, not its change from the previous close. ETMarkets gave no stock-specific catalyst for the four comparisons.
EconoTimes previously covered a similar Nifty 500 screen led by Sobha on Oct. 21.
