Foreign portfolio investors experienced a significant increase in selling Indian equities during the latter half of September. Financial stocks led the sell-off, with the highest outflows totaling around ₹6,943 crore. Oil and gas and auto sectors experienced notable selling, reflecting profit-taking and portfolio rebalancing. Telecom stocks faced profit-taking ahead of the upcoming Jio Platforms IPO, influencing investor positions.
PCBL Chemical rises 25% on supply, export and earnings hopes
PCBL Chemical has seen a 25% stock increase due to anticipated higher carbon-black prices. The company expects improved export prospects and a recovery in earnings.