Shares of Tech Mahindra ended lower for the fifth straight day on Thursday and was among the top losers on the Nifty 50 index. The five-day drop has seen the stock shed 11 percent. Shares fell further after the company's June quarter earnings miss.

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Sources within the dealing rooms told CNBC-TV18 that the stock recovered from the lows on the back of strong buying from High Networth Individuals (HNIs).

The five-day drop has also meant that the stock lost nearly Rs 14,000 crore in market capitalisation. The last time the stock fell five days in a row was between December 5-12, 2022.

Fourth Straight Positive F&O Series

The Nifty 50 may have ended lower on Thursday but it ended the July F&O series with gains of over 700 points. This was the fourth straight positive F&O series for the Nifty 50. The last time this happened was between December 2016 to May 2017.

Dealers said that the flows were mixed but with a positive bias. Pharma turned out to be the sector of the day with the Nifty Pharma index ending over 3 percent higher and dealers said that investors are currently chasing small pharma names.

Broader markets were outperformers in today's trading session.

Besides Tech Mahindra, here are the stocks that made it to the dealing room chatter:

BHEL: The stock continues to trade above the mark of Rs 100, which is the highest level the stock has seen since 2018. Dealing rooms indicate that FIIs have been buyers in the stock and delivery volumes have been on the higher side recently.

Borosil: The stock consolidated after a 7 percent surge on Wednesday and dealers suggest that a leading domestic Mutual Fund has been an active buyer in the stock. As of the June quarter shareholding pattern, Mutual Fund holding in the stock stood at zero.

Federal Bank: Shares have been consolidating off late post its earnings. Dealers indicate that the FTSE rebalancing on Friday will lead to buying of 45-50 lakh shares.

(Edited by : Hormaz Fatakia)