short-covering

MUMBAI—Indian shares rose for a fourth straight session, getting a boost from advances by most Asian markets and short-covering in some blue chips ahead of the expiry of the June derivative contracts.

Indian Shares End Higher on Asian Cues Gurdev Singh Virk 2011

"It's a combination of the data we've received and some short-covering," said Lind-Waldock broker Rich Ilczyszyn , referring to actions by traders to close bets that prices would fall.

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MUMBAI—Indian shares rallied for a third consecutive session to the highest close in nearly three weeks amid short-covering ahead of this week expiration of June derivative contracts and a further decline in crude-oil prices.

India Shares Rally on Falling Oil Prices Sudeep Jain 2011

That's because there has been so much short-covering on overly negative euro bets all week, position-squaring ahead of the U.S. Independence Day holiday and the end-of-the month closing of books.

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Should the company beat Wall Street's earnings expectations, we could see upgrades and/or short-covering propel the shares sharply higher.

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"The rally has been too sharp and sudden and we could see a correction if there is no follow-up buying after the short-covering finishes," said Ambareesh Baliga , chief operating officer at Way2Wealth Securities.

India Shares Rally on Falling Oil Prices Sudeep Jain 2011

MUMBAI – Indian shares ended higher for a second consecutive session Friday as Larsen & Toubro added to the previous day's gains on the back of robust quarterly earnings, while interest rate sensitive shares rose on short-covering ahead of the May derivatives expiry next week.

Indian Shares Higher for Second Day Sudeep Jain 2011

MUMBAI—Indian shares rose for a fourth straight session, getting a boost from advances by most Asian markets and short-covering in some blue chips ahead of the expiry of the June derivative contracts.

Indian Shares End Higher on Asian Cues Gurdev Singh Virk 2011

"There was broad-based technical buying as the markets were in the oversold region, and also some short-covering ahead of the derivatives expiry next week," said Alex Mathews , head of research at Geojit BNP Paribas Financial Services.

Indian Shares Higher for Second Day Sudeep Jain 2011

That is the largest net short position since January 2007, offering the prospect of a sharp short-covering rally as traders scramble to buy back borrowed dollars.

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