homemarket NewsSuryoday SFB end higher after block deal, GMM Pfaudler 14.9% down: Here's what kept the dealers busy on Friday
Suryoday SFB end higher after block deal, GMM Pfaudler 14.9% down: Here's what kept the dealers busy on Friday
Indian equities remained under pressure for second straight day on Friday. All the Nifty sectorial indices ended in the red with PSU Bank being the biggest laggard.
Shares of Suryoday Small Finance Bank ended higher on Friday, resuming the three-day surge after a breather.
Sources within the dealing rooms tell CNBC-TV18 that the stock witnessed selling pressure as a large block deal took place. 4.7 percent of the equity of the company changed hands in the deal.
Dealers suggest that promoter likely the seller in the block deal. Additionally, HNIs are suggested to be the buyers in the deal.
Markets under pressure for second session in a row
Indian equities remained under pressure for second straight day on Friday after posting their worst single-day drop since October in the previous session. The benchmark indices ended over one percent lower on Thursday. All the Nifty sectorial indices ended in the red with PSU Bank being the biggest laggard.
Broader market indices relatively underperformed. Profit booking has been seen in recently rallied stocks. Dealers suggest that flows were mixed at the FII desk today. BSE Ltd was buzzing on small buy flows at a leading FII desk. FTSE and Sensex rebalance to impact data.
Dealers now see the Nifty around crucial support levels of 18,300.
Besides Suryoday SFB, here are the other stocks that have been part of the dealing room chatter today:
GMM Pfaudler Ltd: Shares of the company ended 14.9 percent lower, ending in the red for the second day in a row. The shares fell as much as 18.4 percent in the intraday trade. Dealers say that a large block deal took place today. Patel family & clutch of big long only FIIs buyers today.
PVR Ltd: Shares of the company ended 1.1 percent higher on Friday as dealers suggest that a large block deal is likely to take place soon. In September, clutch of PEs sold 7.7 percent stake in the company.
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