The April futures saw 14,022 contracts being covered while the May contract witnessed 19,998 units being covered.

Synopsis

Analysts attribute the Bank Nifty underperformance to FII and a lesser extent to HNI shorting amid concerns of rising bad loans for banks after the Supreme Court refused to interfere with the government and RBI’s moratorium policy as sought by trade associations and industry.

Mumbai: Foreign institutions and some rich investors covered a sizeable portion of their cumulative bearish bets on Bank Nifty futures on April 1, driving the active index futures contract up 2 per cent, but its underperformance to the broader Nifty could continue until these market constituents desist from adding fresh longs on the index. Analysts attribute the Bank Nifty underperformance to FII and a lesser extent to HNI shorting amid

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