Acropetal raking in quick bucks in day trade

Newly-listed Acropetal Technologies has come as a good opportunity for day traders to make a quick buck even in a weak market. Since its listing on Thursday, the stock has been rising, prompting many to take the advantage of the initial euphoria in the counter. Traders have been buying and selling the share intra-day to make some profit. Brokers, however, say intra-day opportunities in new listings have almost dried up with a very few initial public offerings hitting the market since January this year.

Given this, traders will now try to cash-in on every such opportunity that will be available to them in the coming days, brokers feel. On Friday, the Acropetal Technologies scrip rose nearly 3% to 101 against the IPO price of 90. A total of 1.6 crore shares changed hands, out of which only 5.2% were actually delivered in the market, reflecting high intra-day activity in the counter.