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Greenlam gains most since May, domestic funds buy UTI AMC things that kept dealers busy on Tuesday

market | Dec 27, 2022 4:55 PM IST

Greenlam gains most since May, domestic funds buy UTI AMC - things that kept dealers busy on Tuesday

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Both Sensex and the Nifty ended higher for the second straight day after last week's sell-off.

Shares of Greenlam Industries gained nearly 5.5 percent on Tuesday, registering its best single-day performance since May this year. The stock also ended higher for the third day in a row after Friday's 1.1 percent and Monday's 0.5 percent advance.

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A large block deal took place on the stock in today's session where 1 percent of the company's equity exchanged hands. Sources within the dealing rooms tell CNBC-TV18 that a leading domestic mutual fund is likely to be the seller in this transaction.
Despite today's move, shares of Greenlam are still down 8.5 percent for the year.
Second Day of Gains
Benchmark indices extended Monday's gains with the Nifty index adding another 100 points to its recovery from last week's sell-off. Cement, Auto and Technology stocks led the gains on Tuesday.
Dealers suggest that flows have been mixed but with a positive bias showcased by domestic funds.
Metals were the outperformers on Tuesday on hopes of reopening of the Chinese economy. The Nifty Metal index ended 4 percent higher owing to a bout of short covering.
Dealers indicate that the resistance for the Nifty 50 on the upside is seen at levels of 18,200.
Besides Greenlam Industries, here are some other stocks that have been part of the dealing room chatter today:
Aether Industries: Shares of the company ended higher for the second day on Tuesday, gaining 1.2 percent. Dealers suggest that a domestic mutual fund has been an active seller in the company. They also expect a clean out trade to take place in the stock soon. Aether's shares gained for two straight days after a three-day drop last week.
UTI AMC: Shares added to Monday's 4.7 percent surge on Tuesday as well, ending close to a percent higher. Dealing rooms indicate that few domestic mutual funds have been active buyers in the stock recently.
Note To Readers

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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