Nokia Corporation (NYSE:NOK) is the most active stock today, beating volume leaders like BofA, Ford Motor Company (NYSE:F) and Facebook Inc (NASDAQ:FB). During early hours of trade the stock was up 6.64% trading between $2.42 and $2.72 after scoring about 20% advance for July. The phone maker struggling to cut losses along with declining sales was on track to mark its top seven-day advance in over 20 years in Helsinki trading after stronger sales of its flagship handset and insider purchases made by top managers.

In the U.S. stock market, shares of Nokia has gained more than 60 percent since suffering lowest hit on record on July 18, the day prior to it posted sales of its Lumia smartphone series that came in ahead of analyst estimates. Chief Executive Officer Stephen Elop is confident about the Lumia, using a software from his former employer of Microsoft Corporation (NASDAQ:MSFT), to bring a tough competition for market share gains by Apple Inc.’s (NASDAQ:AAPL) iPhone and handsets which runs on Google Inc’s (NASDAQ:GOOG) Android software.

Espoo, Finland – based mobile phone manufacturer said that sales of the Lumia phone rose to 4 million units in the second quarter as compared to over 2 million in the prior period. Jean-Michel Salvador, an analyst at AlphaValue in Paris, thinks that was the starting point of a recovery for Nokia. He added that there is hope that sales might sustain growth track also with the launch of the new Windows phone.

The company has recently said that Elop and many directors have purchased more than $1 million of Nokia’s shares, indicating a commitment to Nokia and confidence in their prospect. The company has declared reduction of over 20,000 employees and closed production and research sites in an attempt to counteract falling revenue.