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Coming to the buildup of fresh short positions, when the stock prices move downward and open interest on the counter increases, it is taken as a sign of a short build-up.
Trent saw stock pricing dipping up by 2.19%, and the open interest saw an increase of 0.78%. BPCL stock price dropped by 2.17%, and open interest saw a rise of 6.09%.
Retail companies have reported mixed performance, with premium retailers sustaining their growth momentum. However, value retailers continued to face pressure, noted the brokerage. Trent and Westlife Foodworld are the top picks of Axis Securities in the retail space post Q3FY24 results.
Union leaders have warned business groups against pushing Keir Starmer to water down Labour’s plans to introduce sweeping reforms of workers’ rights and a ban on zero-hours contracts. As the Labour leader comes under pressure from industry to scale back its shake-up of employment laws, the Trades Union Congress (TUC) said the plans were “extremely popular” with voters and good for the economy. – Guardian