homemarket NewsKotak ends higher for fifth straight session, FIIs sell Axis Bank Here's what kept the dealer's busy on Friday
market | Dec 30, 2022 5:34 PM IST

Kotak ends higher for fifth straight session, FIIs sell Axis Bank - Here's what kept the dealer's busy on Friday

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Banks continue to outperform, well bid by domestic funds. Dealers suggest that fresh allocations for EMs including India will determine the FII inflows.

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Shares of Axis Bank ended nearly flat at Rs 934.9 on Friday, December 30, last trading day of the year. The stock is 24 point or 2.5 percent below the 52-week high mark. The stock is consolidating off late. Sources within the dealing room tell CNBC-TV18 that there was a small sell flow at leading foreign investor desk today.


Market finish 2022 on a quite note

Benchmark indices ended lower on Friday, following last-hour fall. The movement throughout the session was limited. The volumes remained muted in Friday's session. Traction in select Midcaps and Smallcaps continued.

Monthly auto sales and quarterly business updates across sectors will be the key triggers, starting next week.

Banks continue to outperform, well bid by domestic funds. Dealers suggest that fresh allocations for EMs including India will determine the FII inflows.

Beside Axis Bank, here are the other stocks that were in focus in the dealing room chatter: 

Kotak Bank: The shares ended 0.4 percent higher on Friday. The stock has been consolidating lately, oscillating between gains and losses. Dealer's suggest that a large block deal expected to take place next week. A leading FII is likely to be the seller, as per sources.

Uniparts: The newly listed stock ended 1.9 percent higher,  taking the gaining streak to five days. Dealers have observed buying flows at the HNI desk. The stock listed on the bourses on December 12, 2022.

Disclaimer: The stocks discussed in this article are based on unconfirmed reports from dealing rooms. It is advised to carry out your own due diligence before making any investment decision.

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