Based on the OI percentage, 82 stocks were on the short-covering list. These included City Union Bank, MCX India, L&T Finance Holdings, ABB India, and Kotak Mahindra Bank
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Based on the OI percentage, 70 stocks were on the short-covering list. These included Reliance Industries, Can Fin Homes, Eicher Motors, Infosys, and Godrej Properties. A decrease in OI along with a price increase is an indication of short-covering.
Quarterly earnings season for the April-June 2023 period is set to begin, with a number of companies, including TCS, HCL Tech, and Wipro set to announce their results in the trading week from July 10th to 15th. These stocks will be in focus accordingly on exchanges.
Nifty futures on the Singapore Exchange traded 3.50 points, or 0.02 per cent, higher at 17,790.50, hinting at a flat start for the domestic market on Wednesday.
Since these three firms are the top heavyweights in their respective segments, Buy and Sell can be seen accordingly in other related stocks. Other companies will follow suit in announcing their Q4 results.