Mid-cap state-run banks gain on fresh long positions

Reuters Market Eye - Mid-cap state-run banks gain as investors take fresh long positions in equity derivatives. Traders cite inflation data as the key reason.

India's WPI in August eased to 3.74 percent, its lowest level in nearly five years, government data shows.

Retail inflation edged down slightly in August but core CPI falls sharply by around 50 basis points on month.

Below is a list of mid-cap banks witnessing short covering

Sept futures Open Interest Change

(shares)

Oriental Bank Of Commerce 472,000

Syndicate Bank 416,000

Andhra Bank 628,000

Allahabad Bank 956,000

Union Bank 646,000

(abhishek.vishnoi@thomsonreuters.com / abhishek.vishnoi.thomsonreuters.com@reuters.net)