Nobody wanted to miss the chance, as it does not come often these days. All investors seemed to be flocking the market Wednesday for taking profits, as the market does not often give such an opportunity in the current negative atmosphere. Indices lost all of their Tuesday's gains on Wednesday as selling pressure emerged in select old and new economy stocks. Uncle Jam and Cap-It-All were the two most active players.
Wipro
Hongkong Brokerage is reported to have picked up about 1.5 lakh shares of Wipro, excited by the expectation of the company receiving a big order from one of the telecom majors. Wipro is one of the best domestic technology companies, with aggressive growth plans. Analysts are of the view that, with the revival in software sector, Wipro could be one of the biggest gainers. The latest deal for the company was a $50 million order from Nokia.
Satyam
Cap-It-All does not seem to be interested in picking up stocks these days. Sources said it had sold over 10 lakh shares of Satyam Computer Services on Tuesday and is continuing the selling spree. Since Cap-It-All is known to be a player in large quantities, the selling also is expected to have been large. Moreover, reports that the Sify ADR may get de-listed because of its poor market price exerted pressure on the sell button, dealers said.
SSI
The Savvy Fund Manager is said to have sold about six lakh shares of SSI. It has been almost flirting with the stock for past one week -- picking it up one day and dropping it like a hot cake soon after. It seems to have turned its anger towards the software education firm because of the not-so-good performance of first NIIT and than Aptech.
Tailpiece
Tuesday's trading in the markets also witnessed Kota Mahender selling 2 lakh shares of MTNL. While Jordan Flamingo bought 6.5 lakh shares of Hindustan Lever and 2 lakh shares of ACC, Universal Banking was seen buying 80,000 shares of Infosys.
