India unusual volume stocks: spikes, clarifications and block deals
The screener lists Indian stocks whose volume is far above their own recent average. Here is how NSE asks companies to explain a spurt, what block deals are, and what an Indian account means for a U.S. return.
Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 23, 2026.
A stock on the India unusual volume list is trading far more shares than it usually does. The list is an alert and not an explanation. India has an unusually direct way of getting the explanation: the exchange itself can ask the company, and the answer is published for everyone.
- Unusual volume is measured against each stock's own average, so small, quiet names can top the list.
- NSE seeks clarification from a company when price or volume spurts without a major announcement.
- Volume variation and delivery percentage are among the parameters NSE uses to shortlist securities for extra surveillance.
What this list shows
The screener below ranks Indian securities by how far recent volume sits above the usual level. A ratio can be large for a small company on a modest day. NSE's own volume gainers page offers another view, and our most active page for India ranks plain share counts.
The live list loads when you scroll to this spot.
It is a free screener from TradingView, shown inside this page.
Market list by TradingView; US data is usually end-of-day, other markets may be delayed. Open the full screener.
How NSE handles a spurt
NSE's rumour verification page explains that rumours and articles in the media can have a significant impact on the price and volume of a security, so it is essential to verify them. Where there is a spurt in price or volume without any major corporate announcement, clarification is sought from the company and the reply is disseminated to the market. The process follows pre-decided criteria and is carried out in coordination with SEBI and other exchanges. NSE also runs a facility for submitting a tip-off about suspected misconduct.
Large trades: block deals
A block deal is a large trade done in a separate window rather than in the normal market. NSE's timetable shows two block deal sessions, 8:45 to 9:00 and 14:05 to 14:20 India time, outside the 9:15 to 15:30 normal market. The NSE market data pages list block deals, which can explain a spike in volume that has no news behind it. A block deal is information, not a signal for or against a stock.
A short checklist
Check for a clarification or announcement
Corporate announcements and clarifications are published through the exchanges. Start there, not with a message from someone you do not know.
Check the exchange's surveillance lists
NSE's ASM parameters include volume variation, delivery percentage and the number of unique PANs, so a spike with few participants can be flagged.
Check the block deal page
A large single trade in a separate window can explain a day's volume.
Check the sender
Be wary of unsolicited tips and group chats. You can submit a tip-off to NSE, and complaints about offer documents can go to SEBI's SCORES portal.
Tax notes
Indian rules attach conditions to the concessional tax rates for listed shares. The Income Tax Department says they apply if securities transaction tax (STT) was paid on the transfer, and for equity shares generally on acquisition too, with exceptions. So a transaction outside a recognised exchange can be taxed differently from one on it. Check the department's pages or an Indian adviser, because the rates change with each Finance Act.
On the U.S. side, an Indian brokerage or demat account can need FBAR and Form 8938 reporting. The IRS says an FBAR is required when the aggregate value of foreign financial accounts exceeded $10,000 at any time during the calendar year. Our guides to India accounts, investments and property and NRI tax filing explain the rest, and the tax calendar shows the dates.
Common questions
What does NSE do when a stock's price or volume spikes?
NSE says that where there is a spurt in price or volume without any major corporate announcement, clarification is sought from the company and the reply is then disseminated to the market. The process runs on pre-decided criteria and in coordination with SEBI and other exchanges.
Is a volume spike bullish or bearish?
Neither. Every share traded had a buyer and a seller. A spike shows that many people took a position, and says nothing about who will turn out to be right.
What is a block deal?
A large single trade made in a separate window. NSE's timetable lists two block deal sessions, from 8:45 to 9:00 and from 14:05 to 14:20 India time, and publishes block deals on its market data pages.
Do I have to report an Indian demat account if I live in the U.S.?
If you are a U.S. person, a brokerage account outside the United States is a foreign financial account. The IRS says an FBAR is due if the aggregate value of your foreign financial accounts exceeded $10,000 at any time in the year, and Form 8938 is a separate report with its own thresholds. The FBAR is due April 15 with an automatic extension to October 15.
Official sources
- NSE: rumour verification and clarification in case of spurt in price or volume
- NSE: volume gainers
- NSE: market timings
- NSE: Additional Surveillance Measure (ASM)
- IRS: Report of Foreign Bank and Financial Accounts (FBAR)
- IRS: Comparison of Form 8938 and FBAR requirements
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