Prior to this, the approach of expiry day had attracted short covering in the index futures which ensured that FIIs were left holding close to 60% of their index futures as longs, in stark contrast to just 16% as longs in mid-July.
Nominal GDP growth could fuel largecap recovery; pharma, auto ancillaries remain preferred bets: Shreyash Devalkar
Indian stock markets are defying foreign investor caution, driven by resilient June-quarter earnings. Companies are navigating geopolitical and inflation challenges better than expected, with a