Short covering occurs when traders repurchase shares they had previously sold short, often in response to changes in market sentiment or new information. This typically leads to a reduction in open interest and can push the stock price higher. In Monday’s trading session, five stocks experienced short covering.
Posts in category Economic Times
Stock market update: Nifty Pharma index falls 1.0% (21-10-2024)
The Nifty Pharma index closed 1.0 per cent down at 23122.7.
Rupee slips to record closing low on outflows, weak Asia FX (21-10-2024)
The Indian rupee declined to its weakest closing level on record on Monday but avoided sharper losses as likely intervention by the Reserve Bank of India (RBI) blunted the pressure from weakness in regional peers and persistent dollar outflows.
September quarter sees rise in retail holdings of PSU stocks (21-10-2024)
In the quarter ending September 2024, retail investors increased their holdings in 40 out of 59 PSU stocks compared to the previous quarter. Since early September, the Sensex has gained around 2.8%, while the BSE PSU index has declined by 2.35%, with most PSU stocks facing a correction.
JP Morgan initiates coverage on 5 cement stocks, sees upside of up to 31% (21-10-2024)
The foreign brokerage noted that urbanization and infrastructure projects are expected to drive medium-term demand, while utilization levels should remain stable despite the addition of new capacity.
Paytm Q2 Results Preview: Losses may widen YoY; revenue growth to improve (21-10-2024)
One97 Communications, which runs Paytm, is set to see increased revenue growth in the second quarter of 2024. However, its losses are likely to widen to Rs 660 crore. Despite this, losses should decrease from the previous quarter due to growth in payment services to merchants and financial services.
HCL Tech dividend record date tomorrow. Last chance to buy (21-10-2024)
HCL Technologies’ board approves an interim dividend of Rs 12 per share with October 22 as the record date. Shareholders will receive the dividend on October 30. The company reported a 10.5% rise in Q2 consolidated net profit to Rs 4,235 crore and an 8.2% increase in revenue.
Earnings weakness signals no near-term market breakout, warns Madanagopal Ramu (21-10-2024)
If you are investing in the high growth sectors, you can expect a 20% earnings growth. But if you are going to be a diversified investor with a large amount of mid and smallcaps, then you should be prepared about earnings disappointment in that space as well.
Mukul Agrawal buys 1.58% stake in Stanley Lifestyle, stock up 7% (21-10-2024)
BSE data reveals that Mukul Mahavir Agrawal holds nearly 9 lakh shares in the company. As of September 2024, Stanley Lifestyle’s equity structure comprises 56.81% held by the promoter and promoter group, while the remaining 43.19% is owned by public shareholders.