On Wednesday too, SS accounted for a significant chunk of the 1.4 lakh shares that are reported to have been dumped between various players. Strangely, SS was a buyer all this while even as Jane and Sam were pounding the stock. But with end to the sales in sight, SS decided to go in for a tactical retreat. over the last few months, the fund did manage to get most of its trading calls at the counter correctly. But, as the saying goes, everyday is not Sunday.

Old wine, new bottle?
The news about Satyam Computer having bagged the TRW order had a short lived effect on the stock on Wednesday which continue to retain its place on the whipping list. The situation could be likened to using an umbrella against a thunderstorm. Close to 1.5 million shares were reported to have been dumped on Tuesday and about 1.1 million shares are reported to have been offloaded today also. More than two foreign funds are reported to be sellers at the counter. The list includes high fliers like Singapoori Sarkar and California based CURBS fund.

Optical illusion
Sustained institutional selling pressure was witnessed at the Sterlie Optical counter for the second day in a row. On Tuesday, the Prudent Fund and Singapoori Sarkar are reported to have dumped close to 1.25 lakh shares between them. Today, another 80,000 shares are reported to have been offloaded though the identity of the player is yet to be established.

A sudden burst of institutional sales at the HLL counter cut short the temporary rally witnessed over the last few trading. It seems as if disbelievers of the stock were just waiting for the scrip to cross the Rs 200 levels before going on a selling spree once again.

The Jordan Flaming Asset Management is reported to have sold close to 1 million shares on Monday against the Say-Yes-If-Be-Brokerage's purchase of 2.2 million shares. Close to 6 lakh shares are reported to have been offloaded with the seller's identity yet to be confirmed.

Trivia
Buy back rumours at the Wartsila NSD counter refuses to die down even though the company management has denied any such move for now. There was a fair amount of institutional activity at the counter a couple of weeks back, with the Coat Hari Fund too having picked up a sizeable chunk. The identity of the latest buyers at the counter is yet to be established.

Among cement stocks, Gujarat Ambuja was a notable exception with the stock ending the day on a firm note. Token institutional purchases are reported to have taken place at the counter with the HS Busy Asset Management tipped to be one of the prominent buyers.

Tata Tea was another stock which stood tall amongst the ruins yesterday. No institutional purchases could be confirmed for the time being, although there is reported to have been good amount of informed buying yesterday.

Santosh Nair (email:santoshnair@myiris.com)