ITC emerged as the top loser on the Nifty 50 index on Friday after 50 lakh shares of the company exchanged hands in a large deal. Buyers and sellers in the transaction are not known.

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Sources within the dealing rooms tell CNBC-TV18 that the stock has been under pressure due to the Bharat 22 rebalancing and that a leading FII was a seller in today's block deal.

Despite the stock being under pressure recently, it is up 13 percent so far for the year.

Second Day of Gains

The Indian stock market showed resilience today, rising for the second consecutive day despite a volatile session. The Sensex gained 355 points to close at 57,990, while the Nifty rose by 114 points to close at 17,100.

Most of the gains came from the HDFC twins, which react in the final minutes of trade after the NCLT approved the merger of the two companies.

Volumes were also on the higher side due to the FTSE and Bharat 22 rebalance. The FTSE adjustment will lead to inflows of $400 million.

The key near-term trigger is now the US Federal Reserve meet on March 21, 22. Dealers also said that tech stocks rallied on Friday due to short covering and fresh buying.

Also Read: Tata Consumer Products says it will not buy Bisleri International

Besides ITC, here are some other stocks that have been part of the dealing room chatter today:

Aditya Birla Capital: Shares ended higher for the third straight day on Friday, gaining 3.3 percent. Dealers indicate that the street is anticipating a corporate development to take place soon.

GMR Airports: Shares gained for the fourth day in a row today and have been buzzing ahead of today's board meeting to consider fund raising proposals. Besides the fund raising, the street is also anticipating a corporate development, according to dealers.

Redington: Shares ended marginally lower on Friday, declining for the second day and is consolidating in a range. However, dealers said that there was small quantity of FII buying that took place in today's session within the stock. Shares have declined in seven out of the last eight trading sessions.

Also Read: Rs 1,800 Crore market cap gone in five minutes - Biocon has 2.3% equity change hands in a block deal

(Edited by : Hormaz Fatakia)