Mid-cap State-run Banks Gain on Unwinding of Short Positions
Mid-cap state-run banks gained today as investors unwind short positions. Traders cited better-than-expected GDP data.
RBI Chief Raghuram Rajan's comments noting bad loan are not "scary" was also cited by traders as a reason.
Below is a list of mid-cap banks witnessing short covering.
- September futures Open Interest Change (shares)
Canara Bank (-124,000)
Federal Bank (-48,000)
Indian Overseas Bank (-392,000)
Oriental Bank Of Commerce (-88,000)
Syndicate Bank (-220,000)
Andhra Bank (-236,000)
Allahabad Bank (-156,000)
Bank of India (-49,000)
United Commercial Bank (-56,000)
Copyright: Thomson Reuters 2014
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