homemarket NewsSiemens gains for fourth day; FIIs bet on Shriram Transport: What kept dealers busy on Monday?
market | Dec 12, 2022 4:20 PM IST

Siemens gains for fourth day; FIIs bet on Shriram Transport: What kept dealers busy on Monday?

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Dealers now point to a Nifty range of 18,300 - 18,900 for the near-term.

Shares of Siemens ended higher for the fourth straight day on Monday, continuing its outperformance from the time it emerged as the L1 bidder for a large electric locomotive project.

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Sources within the dealing room tell CNBC-TV18 that a section of FIIs are buying into the stock, thereby aiding its outperformance.
Siemens' shares have risen 10 percent over the last four trading sessions.
A Volatile Day
Benchmark indices began the new trading week on a volatile note with Sensex and Nifty ending flat after recovering from the day's low. The Nifty 50 managed to eke out a one point gain while the Sensex fell 50 points after dropping as much as 500 points in early trading.
All eyes are now on the FOMC rate decision later this week.
Dealers indicate that FII flows were mixed in Monday's session but with a positive bias. "Market-at-close" basket buying was seen at a leading FII desk.
PSU Banks continued to outperform and dealers suggested that these stocks continue to be well bid from FIIs. PNB joined the list of state-run lenders getting positive views after an upgrade from JPMorgan.
Dealers now point to a Nifty range of 18,300 - 18,900 for the near-term.
Besides Siemens, here are some other stocks that have been part of the dealing room chatter today:
Shriram Transport Finance: Shares of the CV financier ended higher for the seventh straight day. The stock has now gained in nine out of the last ten trading sessions. Dealers believe that FIIs are buyers in the stock and it is likely to see very high delivery volumes in Monday's trading session.
Axis Bank & HDFC Life: Both stocks have been consolidating in a narrow range. Dealing rooms suggest that large block deals are likely to take place in both these stocks. With regards to the nature of these block deals, they may be clean out trades from large global investors.
Campus Activewear: Another stock where a large block deal may take place is Campus Activewear, which was under pressure on Monday after a two-day surge. Dealers indicate that a large private equity investor is likely to be the seller in the potential transaction.
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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