Shares of Paytm parent One 97 Communications rebounded more than 3% in Friday’s trade after falling sharply in the previous session. The stock rose 3.14% to hit an intraday high of Rs 559.25, above its previous close of Rs 542.25. The stock hit hard yesterday after Chinese multinational Alibaba sold about 2 crore shares in Paytm worth Rs 1,126 crore in a block trade.

Paytm stock pared some of its losses today, led by a strong rebound in tech stocks. On the technical front, analysts see the stock as ‘weak’.

The stock traded at a high of Rs 559.25 today, up 27.22% from its 52-week low of Rs 439.60 on November 24 last year. That said, Paytm has fallen 51.26% from its one-year high of Rs 1,147.40 on January 17, 2022.

Also, the stock fell 73.99% from its initial public offering (IPO) price of Rs 2,150.

A total of 216,000 shares changed hands today, below Paytm’s two-week average volume of 411,000 shares. Over-the-counter turnover was Rs 11.83 crore, with a market capitalisation of Rs 35,979.62 crore.

Meanwhile, the Indian stock benchmark rose in late trade, led by IT, banking and financial stocks.