homemarket NewsPCBL gains for third day; Indiabulls Housing up 10% in two sessions: What kept dealers busy on Thursday?
market | Dec 15, 2022 4:44 PM IST

PCBL gains for third day; Indiabulls Housing up 10% in two sessions: What kept dealers busy on Thursday?

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Technology stocks like TCS, Infosys and HCL Tech continue to remain the top losers on the Nifty 50 index.

Shares of PCBL, or Philips Carbon Black ended higher for the third straight day on Thursday, taking the three-day surge to 6 percent.

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Sources within the dealing rooms tell CNBC-TV18 that the stock was witnessing selling pressure from a large fund which is now likely to be over.
Additionally, dealers also suggest that a leading HNI investor is said to be an active buyer in the stock.
Worst Day In Two Months
Indian equities saw their worst single-day drop since October with benchmark indices ending with losses in excess of 1 percent. Technology stocks continue to remain the top losers on the Nifty 50 index.
Dealers suggest that flows were mixed and institutional investors were sellers in today's trading session. Financials saw mixed flows with private banks being well bid while some PSU banks witnessed some profit booking.
Dealers now see the Nifty range to be a 600-point one between 18,300 to 18,900.
Besides PCBL, here are some other stocks that have been part of the dealing room chatter today:
Indiabulls Housing Finance: Shares of this NBFC ended higher for the second day in a row and have gained close to 10 percent in the last two trading sessions. Dealers say that the focus is now on the depromoterisation of Sameer Gehlaut, which may happen by the end of this month. They also added that any stake sale from his end is unlikely before that happens.
Tata Steel: Shares ended with losses on Thursday as metal stocks witnessed some risk-off sentiment. However, dealers said that some small buying interest from institutional investors has returned into this stock.
Granules India: The stock declined on Thursday as FIIs were sellers, according to dealing room channel checks.
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