Shares of PG Electroplast ended lower for the second day in a row on Tuesday, ending with losses of nearly 2 percent. The stock has been consolidating in the last 6-8 trading sessions.

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Sources within the dealing rooms told CNBC-TV18 that the company is likely to launch a QIP soon in order to raise funds.

The stock has gained nearly 25 percent this year and has been among the outperformers.

17,000 Defended

The Nifty 50 index fell for the fourth day in a row on Tuesday, but managed to close above the mark of 17,000 despite making an intraday low of 16,998.

Every pull back move in the index is being sold into, according to dealers, who also said that flows are mixed with a negative bias and some select private banks saw heavy volumes today.

Dealers also said that Midcap IT stocks were under pressure today due to fresh selling pressure from FIIs. Mphasis ended at a fresh 52-week low, declining for the fourth straight day.

On the downside, the next support for the Nifty 50 now lies at 16,800.

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

IndusInd Bank: The stock gave up most of its intraday gains but managed to end above the flat line. The stock may have snapped a three-day losing streak after Monday's drop of over 7 percent, but dealers suggest that selling pressure from FIIs on this stock continues. This may have been a trigger for the stock cooling off from the highs.

Aurobindo Pharma: The drugmaker ended with modest gains and also gave up most of the intraday surge. Dealing rooms indicate that FIIs have been buyers in this stock. Shares snapped a four-day losing streak on Tuesday.

Reliance Industries: The index heavyweight closed lower for the fourth day in a row and is now trading below key support levels. Shares also ended at a 52-week low on Tuesday. Dealers suggest that FIIs have been selling the stock, adding to the downside pressure.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

(Edited by : Hormaz Fatakia)