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Stylam's best day in four months; IBREL in focus: What kept dealers busy on Wednesday?

market | Dec 7, 2022 4:12 PM IST

Stylam's best day in four months; IBREL in focus: What kept dealers busy on Wednesday?


Both Sensex and Nifty ended lower for the fourth day in a row.

Shares of Stylam Industries gained over 5 percent on Wednesday, registering its best single-day performance in over four months.

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Nearly 1 percent of the company's total equity exchanged hands in a large trade during Wednesday's trading session. Sources within the dealing rooms tell CNBC-TV18 that a leading domestic Alternative Investment Fund is a buyer in Wednesday's transaction.
With these gains, shares of Stylam Industries have ended higher in three out of the last four trading sessions.
Fourth Day Of Losses
Benchmark indices ended with losses for the fourth straight day after the Reserve Bank of India hiked repo rate by 35 basis points. The Nifty 50 managed to end above the 18,550 mark despite a drop of over 80 points.
Financials continued to outperform while tech stocks were among the top laggards, mirroring the sell-off in the Nasdaq overnight.
Dealers indicate that the drop in crude prices is positive for Indian macros, adding that 18,300 is a support level on the downside for the Nifty 50 index.
Besides Stylam Industries, here are some other stocks that have been part of the dealing room chatter today:
Triveni Turbine: Shares of the company ended higher for the first time after a three-day drop. Dealing rooms are expecting a large block deal to take place in the stock soon. The dealers further added that the seller in the transaction is likely to execute a clean out trade.
Indiabulls Real Estate: The stock has been gaining over the last 10 days ahead of the final NCLT verdict on December 8. The stock gained for the fifth straight day and has ended higher in eight out of the last nine trading sessions. Dealers believe that NCLT granting the final approval may lead to further re-rating for the stock.
Sapphire Foods: After a large deal on Tuesday in which Fennel Pvt. Ltd. sold 6 lakh shares of the company, dealers are anticipating another block deal to take place soon in the stock. A leading foreign investor is likely to be the seller in this potential deal. Shares ended lower after gaining for two days.
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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