PCBL, or Philips Carbon Black, ended higher for the third straight day on Thursday, taking a three-day jump to 6 percent.
Sources in the dealing room are telling CNBC-TV18 that the stock is witnessing selling pressure from a large fund that is likely to expire.
Apart from that, dealers also suggest that prominent HNI investors are said to be active buyers in these shares.
Worst Day In Two Months
Dealers suggest that flows vary and institutional investors are sellers in today’s trading session. Financials saw mixed flows with private banks bidding well while some PSU banks saw some book profits.
Dealers now see Nifty’s range being 600 points between 18,300 to 18,900.
Apart from PCBL, here are some other stocks that are the talk of the day’s trading space:
Indiabulls Housing Finance: NBFC shares ended higher for the second day in a row and are up nearly 10 percent in the last two trading sessions. The dealer said that the focus now is on the depromoterization of Sameer Gehlaut, which could happen by the end of this month. They also added that any sale of shares from their end was unlikely before it happened.
Steel layout: Stocks ended with losses on Thursday as metal stocks witnessed some risk-off sentiment. However, dealers say that little buying interest from institutional investors has returned to the stock.
Indian Details: Stocks fell on Thursday as FII was a seller, according to an examination of the dealing room channels.