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"Revenge shopping that we saw during the pandemic was never sustainable. While people are buying higher priced products including cars and electronics with finance options, the increasing EMI every month is forcing them to cut back on lifestyle products like clothing and accessories," said Kumar Rajagopalan, chief executive officer of RAI.
Based on the OI percentage, 44 stocks were on the short-covering list. This included Chambal Fertilisers & Chemicals, HDFC Life Insurance Company, Pidilite Industries, Dr Reddy's Laboratories, and ICICI Lombard General Insurance Company.
A long build-up was seen in 69 stocks, which included Hindustan Copper, Alkem Laboratories, Cummins India, Torrent Pharmaceuticals, and Atul.
Here’s a look at stocks that are likely to remain in action today.
Gunjan Shah, MD and CEO of Bata India Limited, said, “Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience and expanding our reach across channels & markets.”