FIIs cover short bets as markets rebound, but stay wary

Overseas investors’ bearish derivative bets on India fell to the lowest since the West Asia conflict as the market rebound following the two-week ceasefire prompted them to liquidate some of their short positions.The long-short ratio-the proportion of bullish (long) positions to bearish (short)-of foreign portfolio investors’ Nifty futures wagers rose to 22% on Friday, close to the 18-21% range seen in the last week of February before the start of the US-Iran clash on February 28. The reading ha...