Friday’s fireworks in equity markets, which saw the Sensex and Nifty rise by 5.32 percent in a single trading session, are likely to continue in the coming week, too.
Data shows that foreign portfolio investors (FPIs) still hold around 64,000 contracts of net short positions in the futures segment on the National Stock Exchange (NSE). The same was around 1.2 lakh contracts last week. A huge amount of short positions simply mean that markets could rally as funds cover their positions. FPIs could step on the gas pedal to cover their short positions on account of monthly derivative expiry on Thursday.
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