Shares of ITC ended 1.5 percent higher on Monday and has now gained in four out of the last five trading sessions, although the gains have been modest.

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Sources within the dealing rooms told CNBC-TV18 that the stock received strong bids from institutional investors and that they are expecting strong delivery volumes on the stock for today's session.

ITC shares have been on a downward trend since hitting a record high of Rs 490. The stock has corrected 10 percent since then and has seen the announcement of its June quarter results, as well as the demerger ratio for its hotels business.

Positive Start To The Week:

Benchmark indices ended the day higher to start the new week on a positive note. The index managed to test the 19,400 mark but failed to close above it yet again.

Domestic liquidity is also helping the indices as suggested by the dealers, who believe that the range for the Nifty 50 index remains between 19,300 - 19,800.

At the Motilal Oswal Conference, the global interest in India is quite high. Among other sectors, metals and tech stocks were well bid by institutions.

Besides ITC, these stocks made it to the dealing room chatter:

Kernex Microsystems: The stock ended 1.5 percent higher in today's session. The stock snapped a three-day losing streak on Monday. Dealers believe that a fund raising announcement is expected soon in the stock.

Jindal Worldwide: Shares of Jindal Worldwide ended 2.3 percent lower on Monday and has now declined in three out of the last four trading sessions. Dealers indicate that a leading hedge fund is an active buyer off late in the stock.

NIIT Learnings: The stock ended higher on Monday but has been under pressure since its listing earlier this month. Dealers indicated that there were strong sell flows on the FII desk.

First Published:Aug 21, 2023 4:01 PM IST