Apollo Micro Systems (AMS) saw a 4.61% decline in its shares on Tuesday to ₹144.31 on the National Stock Exchange, as investors opted to book profits following the defense stock’s significant 60 per cent surge in the past month.
The sell-off occurred shortly after the small-cap defense company’s stock hit a 52-week high of ₹157, amidst heavy trading volumes. The previous day, the stock had soared nearly 14 per cent on expectations of robust quarterly earnings, with over 17 million shares being traded on both the NSE and BSE.
AMS’s recent performance has far surpassed the broader market, with gains of around 60 per cent in the last month while the BSE Sensex has seen a 1 per cent decline during the same period. The stock came close to its all-time high of ₹161.75 registered on November 20, 2023, during Monday’s peak.
The downturn in AMS shares is in line with the overall market sentiment, which has been influenced by signals from U.S. President Donald Trump’s trade policies and the decline in oil prices. Traders are currently focusing on PSU, defense, and metal stocks as they monitor the falling U.S. Dollar Index.
The article was originally published on January 21, 2025.
