Five stocks witnessing short covering

Short covering refers to buying back borrowed securities in order to close out an open short position at a profit or loss.

Both Sensex and Nifty opened the day after the Union Budget was presented on a strong note. At 11.08 am, Sensex was spotted at 59,388.27 levels, climbing 0.89 per cent while Nifty advanced 0.87 per cent to be at 17,729.40 levels.

The top three gainers of the day included Bajaj Finserv, IndusInd Bank, and Bajaj Finance, which surged 5.00 per cent, 3.94 per cent & 3.43 per cent, respectively. On the other hand, Tech Mahindra, Sun Pharma, and L&T turned out to be the top three losers, which tanked 3.49 per cent, 1.07 per cent & 0.88 per cent, respectively. 

List of the stocks where sell positions are being covered in the F&O segment: