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Based on the OI percentage, 61 stocks were on the short-covering list. These include Hindalco Industries, Cholamandalam Investment & Finance, Bajaj Finance, Berger Paints, and Asian Paints.
While the average return for the 10 past occassions was a tepid 0.3 per cent, if one ignores March 2020's 23 per cent selloff -- which was mainly on account of onset of Covid, the average Nifty return for March stands at 2.9 per cent, JM Financial said in a note.
Zomato Ltd, DLF, MRF, Hindalco Industries, InterGlobe Aviation (IndiGo), Dr Reddy’s Labs and Paytm are also seen attracting up to $89 million in passive inflows each due to increased MSCI weightages.
A total of 5,805 shares changed hands on the counter till 10:51AM (IST).
Indigo market share dropped from the peak of 63.4 percent in September 2023 to 60.2 percent in January 2024