homemarket Newsstocks NewsAxis Bank falls for fifth day, large deal in HDFC AMC stocks that kept dealers busy on Monday
market | Jan 16, 2023 6:06 PM IST

Axis Bank falls for fifth day, large deal in HDFC AMC - stocks that kept dealers busy on Monday


Dealers continue to maintain that 17,800 is a crucial downside support for the Nifty 50.

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Shares of Axis Bank ended 2.2 percent lower on Monday, declining for the fifth straight day. The stock was the second biggest loser on the Nifty 50 index.
Sources within the dealing rooms told CNBC-TV18 that the stock has been seeing selling pressure at the FII desk.
The stock has declined in eight out of the last nine trading sessions. Since January 3, the stock has declined 5 percent.
Consolidation Continues
Indian equities began the new week on a negative note, ending another rangebound session lower.
The Nifty 50 index ended 40 points above the lows of the day, managing to hold the 17,850 mark.
Dealers said that small amounts of ETF buying continued at FII desks, following up with $500 million worth of buying last week.
While private lenders like Axis Bank underperformed, PSU Banks and insurance names were well bid for, according to the dealing rooms.
Although the top five gainers on the Nifty 50 were tech names, flows have been mixed for them.
Dealers continue to maintain that 17,800 remains a crucial downside support for the Nifty 50.
Besides Axis Bank, here are some other stocks that have been part of the dealing room chatter today:
HDFC AMC: Shares ended over 2 percent lower on Monday after a three-day surge. 15 lakh shares or 0.7 percent of the company's total equity exchanged hands in a large trade. Dealers believe that a leading foreign investor is likely to be the seller of the stock.
Manappuram Finance: Shares ended higher for the second straight day on Monday. Dealers indicate that FIIs have been buying the stock and Morgan Stanley has also rated the stock as a tactical buy.
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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