Heard On The Street: Dealers Flag Action In Zomato, IndusInd, HPCL, Indus Towers

Indian markets slid sharply on Monday, tracking a broad selloff across Asia as fears of a deepening trade war rattled investor sentiment. The NSE Nifty 50 fell as much as 5.1%, its steepest one-day drop since early June, while volatility surged to an eight-month high. Rupee weakened to a six-week low against the US dollar.Despite the global jitters, India’s losses were somewhat cushioned after the government refrained from retaliating against the United States’ move to impose a 26% tariff on Indian exports, opting instead to push for a bilateral trade agreement. Asian peers suffered from their biggest drop in 14 years, a counter effect of the slump in Wall Street. NDTV Profit picked up the following cues from dealing room chatter during trade:.Dealers suggest that the 49% foreign investment limit in Zomato Ltd. may have been breached, which could trigger passive selling by funds that track global indices provided by MSCI and FTSE. .IndusInd Bank Ltd. witnessed strong buying interest from domestic institutional investors and large high net-worth individuals. Dealers believe this was driven by expectations of a potential positive announcement from the company. .Nifty's 'Black Monday' Fall Wasn't The Worst In 21st Century.Hindustan Petroleum Corp. Ltd. stood out among oil marketing companies as the only stock in the green for most of the session, while Indian Oil Corp. Ltd. and Bharat Petroleum Corp. Ltd. remained under pressure. Dealers attributed the relative strength to HPCL’s high domestic exposure, in contrast to its peers that have overseas assets and exploration interests. This domestic focus appears to have drawn buying interest from mutual fund desks..Dealers noted institutional buying at lower levels in Indus Towers. The stock was seen as largely unaffected by tariff-related concerns. In addition, dealers flagged the possibility of a dividend announcement alongside the company’s upcoming fourth-quarter results, which may have added to investor interest..Stock Market Crash: Nifty, Sensex Plummet, Yet Hold Edge Among Asian Peers.Disclaimer: The mentioned stocks capture NDTV Profit's dealing room channel checks during trading hours. The information provided is for informational purposes. However, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, or suitability of the information. This content does not constitute financial, investment, or trading advice and should not be construed as a recommendation to buy, sell, or hold any securities.

Heard On The Street: Dealers Flag Action In Zomato, IndusInd, HPCL, Indus Towers

NDTV Profit picked up these signals from deal room chatter during Monday’s trade.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP