Shares of private lender Axis Bank Ltd. ended as the best performer on the Nifty 50 index on Monday, closing 3 percent higher. The stock rose for a fourth consecutive day, during which it has gained more than 7.5 percent.
Sources inside trading rooms tell CNBC-TV18 that the only long-leading fund has turned active buyer recently.
According to the June quarter structure, Singapore Government, Vanguard, Government Pension Fund Global are some of the leading foreign investors in the bank.
The lender will report its September quarter results on October 20.
Pressure At High Levels
According to the dealing rooms, the flow is mixed but with a negative bias.
Traders also suggest that rising crude oil prices, along with a depreciating rupee are some of the major concerns in the near future. Brent crude rebounded to $100 a barrel as the rupee hit another record low on Monday.
Apart from Axis Bank, here are some other stocks that have been the talk of the trading room today:
PG Electroplast: Multiple block offers were held in the shares of this electronics manufacturing provider. About 0.5 percent of the shares exchanged hands in block deals. The stock finished 4 percent higher and also gained for the fourth day in a row. Chambers of commerce sources indicate that the country’s leading PMS has become a buyer within these deals.