What an indecisive mood the markets seem to be in today. The S&P/ASX 200 Index (ASX: XJO) has bounced around for most of the day, giving up some healthy gains that we saw this morning. At present, the ASX 200 is in the red, recording a loss of 0.29% at just over 6,830 points.
So let's delve a little deeper into these market gyrations and examine the ASX 200 shares currently topping the market's trading volume charts, according to investing.com.
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The 3 most traded ASX 200 shares by volume this Tuesday
Incitec Pivot Ltd (ASX: IPL)
ASX 200 fertiliser and chemical manufacturer Incitec Pivot is our first share worth checking out this Tuesday. So far today, a sizeable 14.01 million Incitec shares have been bought and sold on the share market. This could be related to the investor presentation the company released to the markets this morning.
Investors don't seem to approve of what was discussed though. The Incitec Pivot share price has tanked a chunky 2.74% today to $3.725 a share. It's probably this selloff that has prompted the elevated volumes we are seeing.
Core Lithium Ltd (ASX: CXO)
Next up is ASX 200 lithium stock Core Lithium. As it currently stands, a notable 20.22 million Core Lithium shares have traded on the markets. There hasn't been much in the way of news out from Core Lithium today.
However, as my Fool colleague Brooke looked at this afternoon, several positive developments in recent months have proven very lucrative for the Core Lithium share price.
The company is up a whopping 8.82% today so far to $1.48 a share, which puts Core's gains at almost 10% over the past five trading days. It's almost certainly this gain today that has resulted in the volumes we see.
Pilbara Minerals Ltd (ASX: PLS)
Finally today, we have another ASX 200 lithium share in Pilbara Minerals. This Tuesday has seen a hefty 25.28 million Pilbara shares fly around the ASX. There hasn't been any news out of Pilbara either.
However, as we also looked at this afternoon, ASX broker JP Morgan has come out with an upgrade for Pilbara shares. The broker gave the company an outperform rating and boosted its 12-month share price target by 17% to $4.10.
Investors could have taken this to heart, given the Pilbara share price has gained a robust 6.49% to $3.94 a share. It could be a combination of these events that has led to the high volumes we are witnessing.
