Elitecon International shares reversed a sharp intraday rally on Thursday, failing to hold onto gains after touching a high of ₹26 on the Bombay Stock Exchange.
The stock had surged more than 9% earlier in the session, driven by a notable spike in trading volume that suggested renewed speculative interest in the small-cap name.
Despite the brief upside momentum, selling pressure returned as the session progressed, leaving the stock lower on the day.
The reversal underscores the fragility of sentiment in the small-cap segment, where liquidity can shift rapidly and intraday volatility remains elevated.
Elitecon’s shares have been under sustained pressure, declining 10.24% over the past week and 11.16% over the last month, according to market data.
The stock’s performance stands in contrast to a broader market rebound that has lifted sentiment across other segments.