Top traders on selling spree

MUMBAI: “DLF no sab maal beechi do.” It was Dalal Street’s top trader asking a dealer to off-load 1.5 crore shares of DLF on Friday. Stocks including Inter Globe Aviation, Jet Airways, SunTV, India Cements, TV18 and Wockhardt have withered under selling pressure from two of Nariman Point based top traders.

Both are on a spree to off-load their short term portfolio. Nifty’s brutal fall below 7500 and capitulation in small and mid-cap counters has shaken the confidence of savviest traders. Many are finding it difficult to exit positions even after a 15-20% markdown in stock prices.

On Monday DLF closed at Rs 95 compared to Rs 113 on Friday and the trader who made the phone call is still holding over 1 crore shares.