 "mutual fundsThe Nifty rose 7.5 per cent in June, even as domestic MFs sold shares worth nearly Rs 4,000 crore")
Even as the markets dwindled under selling pressure in the last two trading sessions last week, select stocks continued to witness significant build-up in open interest (OI) on the long (Buy) side, data suggests.
Build-up of OI on the long side in general indicates that traders are expecting the price of the underlying stock or index to gain in the near-term.
Cipla, NTPC, PFC, PowerGrid Corporation and REC were the five stocks to have witnessed a price gain backed by rise in OI in the last four trading sessions. This implies a likely build-up of long positions at these counters.
