FIIs buy Canara Bank; SJVN sees HNI interest: Dealing Room Check
PSU Banks continued to be well bid at the institutional desk with the PSU Bank index gaining 2.6%.
Shares of Canara Bank ended higher for the third day in a row, gaining over 4%. The stock ended at a 52-week high on Monday.
Sources within the dealing rooms told CNBC-TV18 that the stock has seen strong buying interest from foreign investors and that high delivery volumes could be expected in today's trading session.
The state-run lender has risen 20% so far in 2023.
Sluggish Start To Truncated Week
It was a day of consolidation in the market with both Sensex and Nifty ending with marginal cuts and giving up most of the gains they made during the Muhurat trading session.
PSU stocks continued to outperform with the Nifty PSE index gaining another 1%.
Flows, according to dealers were muted at the FII Desk with small market at close selling seen in select largecap names.
PSU Banks continued to be well bid at the institutional desk with the PSU Bank index gaining 2.6%.
Midcap Pharma stocks were also back on the radar of investors, according to dealers.
Besides Canara Bank, these stocks made it to the dealing room chatter on Monday:
SJVN: The state-run hydropower producer ended little changed on Monday but has gained in four out of the last six trading sessions. Dealers said that some high networth individuals have been buyers in the stock recently.
Nuvama Wealth: The stock ended higher for the second day in a row, extending Sunday's gains. Multiple block deals took place in the stock during Monday's trading session. A leading HNI investor is an active buyer in the stock, according to dealers.
Wockhardt: Shares of the drugmaker gained over 11% on Monday, extending its gains for the third straight day. Dealers said that the stock is buzzing in trade ahead of its earnings and that the street is expecting further clarity on its antibiotics drug.
(Edited by : Hormaz Fatakia)
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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