RSML Hits Circuit for Second Day Running: Manufacturing Bucks the Selloff

In a market falling 2.62% across the board, Reliance Spinning Mills (RSML) stood out by hitting the 10% upper circuit for the second consecutive day, reaching Rs 2,947.20 on April 1, 2026. Yesterday it hit the circuit from Rs 2,436 to Rs 2,679.30. Today it surged from Rs 2,679.30 to Rs 2,947.20. This two-day consecutive circuit performance in a broad selloff environment is an exceptionally rare and strong momentum signal.

RSML Two-Day Circuit Performance

Date	Open (Rs)	Close (Rs)	Change (%)	Volume
March 31, 2026	536.00 (prev)	2,679.30	+10.00%	2,097
April 1, 2026	2,678.20	2,947.20	+10.00%	5,110

The two-day journey: from Rs 2,436 (March 30 close) to Rs 2,947.20 (April 1 close) = a gain of Rs 511.20 per share (+21%) in just two sessions. At 5,110 shares traded today (vs 2,097 yesterday), volume is accelerating — a positive momentum confirmation signal.

Why Is RSML Running Independent of the Market?

Several factors may be driving RSML's unusual momentum:

• Thin float: If few shares are available for trading, even small buy orders push prices to the circuit limit quickly
• Carry-over orders: Each consecutive circuit day creates new unmatched buy orders that push the stock to circuit again the following session
• Fundamental catalyst: A company announcement, rights issue, or earnings news may be driving informed buying — check NEPSE announcements
• Sector rotation: Manufacturing's outperformance (Mar 31: +1.94% sector) may have attracted fresh institutional attention to RSML specifically

Other Circuit Stocks on April 1, 2026

RSML was not alone — several other stocks also hit the 10% upper circuit on April 1, continuing from March 31:

Symbol	LTP (Rs)	Change (%)	Consecutive Circuit
RSML	2,947.20	+10.00%	2nd day ✓
SKHL	531.40	+10.00%	2nd day ✓
BJHL	636.40	+9.99%	2nd day ✓
SKHEL	416.00	+9.99%	2nd day ✓
RLEL	439.20	+9.99%	2nd day ✓
HFIN	384.70	+9.99%	2nd day ✓

All six circuit stocks from March 31 again hit circuits on April 1 — an extraordinary display of persistent buying conviction in these specific counters while the rest of the market sold off sharply.

Risk Warning: Momentum Cuts Both Ways

While RSML's consecutive circuit performance is exciting, momentum stocks carry significant risks:

• When unmatched buy orders finally exhaust, the stock can fall as sharply as it rose
• At Rs 2,947, RSML is now 21% above its pre-circuit level — profit-taking pressure builds with every circuit
• The broader market's 2.62% decline could eventually drag even circuit stocks down if the selloff deepens
• Always use a stop-loss and never invest more than you can afford to lose in momentum plays

RSML's two consecutive 10% circuit days — climbing from Rs 2,436 on March 31 to Rs 2,947.20 on April 1 — represent one of the strongest individual stock performances on NEPSE this year. The fact that this run occurred while the broader index fell 2.62% makes it all the more remarkable. Whether this momentum continues to a potential Rs 3,200+ depends on the continuation of unmatched buy orders and whether the broader market stabilises. Risk management remains essential even in strong momentum plays.