Shares of Meesho staged a partial recovery on Thursday after hitting the lower circuit at ₹164.48 earlier in the session, following heavy selling pressure triggered by the expiry of the one-month lock-in period.
After being locked at the lower circuit, the stock saw fresh buying interest at lower levels, helping it rebound to around ₹166.37, though it still ended the session down over 5 per cent on a weekly basis.
Buying Emerges at Lower Levels
Market depth data indicated a narrowing gap between buy and sell orders, with buy quantity rising to 45.88 per cent, compared to sell quantity of 54.12 per cent, suggesting that bargain hunters stepped in after the sharp decline.
The recovery came amid high trading activity, with volumes crossing 2.13 crore shares and a total traded value of approximately ₹356 crore, reflecting heightened investor participation.
Lock-in Expiry Continues to Weigh on Sentiment
The stock had come under pressure after nearly 10.99 crore shares (about 2 per cent of equity) became eligible for trading following the lock-in expiry. While this does not mandate immediate selling, the event raised short-term supply concerns, leading to the intraday sell-off.
Trend Remains Volatile
Despite the rebound from the lower circuit, analysts note that near-term sentiment remains cautious, with the stock still trading closer to its 52-week low of ₹153.89 than its peak of ₹254.40. Any sustained recovery is likely to depend on stability in volumes and absorption of post lock-in supply.
