ITC gains on unwinding of short positions in Nov futures

Reuters Market Eye - Shares in cigarette maker ITC surge on unwinding of short positions in its November futures contracts, dealers say.

The November futures contract shed about 1 million shares in outstanding open positions by 0911 GMT compared with its 5-day average change of 0.23 million shares, as per Thomson Reuters and NSE data.

ITC shares rise 3.2 percent, while its November futures are down 3 percent.

(Reporting by Abhishek Vishnoi)