Delivery-Based Selling in RIL, HDFC Bank, ITC And Zomato As Benchmark Ended Lower

Reliance Industries Ltd., HDFC Bank Ltd., Zomato Ltd. and ITC Ltd. witnessed major delivery-based selling on Monday, as the benchmarks ended lower. Both Sensex and Nifty continued declines after posting some recovery in Thursday’s sessions, as dollar index strengthened and FIIs remained sellers in Indian equities. On the other hand, domestic institutional investors stayed buyers for 14 consecutive sessions and bought stocks worth Rs 5,750 crore.

HDFC Bank recorded a delivery volume of 71.46 lakh shares, with a delivery percentage of more than 64%. The total volume turnover stood at Rs 1,907 crore, with a delivery turnover of Rs 1,222 crore. The HDFC Bank witnessed delivery-selling despite being under in Monday’s session.

Meanwhile, Nifty heavyweight Reliance Industries Ltd. witnessed delivery volume of 91.72 lakh shares, with a delivery percentage of 58.8%. The total volume stood at Rs 1,900 crore, and the delivery turnover contributed Rs 1,117 crore.

ITC Ltd recorded a delivery volume of 1.4 crore shares, with a delivery percentage of nearly 60%. The total volume stood at Rs 2.35 crore, and delivery turnover contributed Rs 705 crore. The stock also witnessed delivery of thrice its one-month average. This delivery-based selling becomes significant as stock was down 8% in last session, and 2.25% lower after adjustment on ex-demerger date. Under the demerger, shareholders with 10 shares of ITC will receive one share of ITC Hotels.

Similarly, Zomato recorded a delivery volume of 2.66 crore shares, with a delivery percentage of 50%. The total volume turnover stood at Rs 1,040 crore, with a delivery turnover of Rs 705 crore. Similarly, Nifty FMCG dropped nearly 2% today and went down 15% from its all-time highs.

The other stocks which saw massive delivery-based selling include Kotak Mahindra Bank, Tata Consultancy Services, Infosys, Bharti Airtel, GAIL, and HDFC Life.