Inox Leisure seeing fund buying

Inox Leisure is showing some very good volumes today. Today alone some 12.25 lakh shares were traded compared to two week average of 5.6 lakh shares. The stock price is up over 2% at Rs.178 levels, with an intra day high at Rs.184.50.

The stock is up due to fund buying. Goldman Sachs bought 1.25 million shares or 1.3% of the equity. This apart, Norges Bank also bought 1.1 million shares. Fund buying usually brings in a lot of bullishness on the counter and that is what we are seeing at the moment.