Indiabulls Housing gains for fourth day, FIIs bet on Manappuram: Dealing Room check

Shares of Indiabulls Housing Finance ended with gains of over 3.5% on Thursday, extending it for the fourth day in a row. The stock has ended at the highest level in nearly two months.

Sources within the dealing rooms told CNBC-TV18 that the stock gained on strong buy flows at the HNI desk. The HNIs were buyers in the cash market as the stock is currently in the F&O ban.

The stock gained for the fourth day in a row and has now gained 21% so far in 2023.

After trading at the highest point of the day for most part of the session, the markets saw a sharp correction from higher levels but managed to end in the green.

The Nifty 50 ended over 100 points of the day's high and dealers said that this was due to some market at close basket selling at a leading FII desk. Flows were also mixed on Thursday but with a negative bias.

Broader markets continued to outperform with the BSE Smallcap index ending at a record high.

IT stocks also outperformed on Thursday with the Nifty IT index ending 3% higher. This was the best single-day gain for the index since July this year.

Allcargo Terminal: The stock ended 13% higher on Thursday on strong volumes. Dealers said that selling pressure in the stock from a leading FII is largely over. The stock had gained 20% on November 6 as well.

Manappuram Finance: The stock gained for the fourth day in a row and also ended at a 52-week high. The stock has gained 17% in the last four trading sessions. Dealers suggest that FIIs have been strong buyers in the stock recently.

Glenmark Pharma: Shares of the drugmaker have gained in the last two sessions and dealers believe that a leading family office is an active buyer in the stock off late.