Hedge funds with big Tesla shorts struggle as rally hits; focus now on trading electricity

From Hindustan Times: 2024-07-07 12:42:48

Stock markets see hedge funds with big Tesla shorts struggling as rally hits them hard. Almost 18% of hedge funds had short positions on Tesla, the highest in over a year. Wall Street eyes consumer inflation and Jerome Powell’s testimony for Fed policy clues. Auto industry outlook favorable, with two-wheelers expected to lead. Hedge funds now focusing on trading electricity and natural gas. Stock recommendations include buying BHEL, CDSL, and Borosil. Rushil Decor announces a 1:10 stock split to increase share liquidity. Top-firms’ Mcap climbs by ₹1.83 lakh crore, led by TCS and Infosys gains. Gold and silver prices today show 24 carat gold at Rs. 74529.0 for 10 gm in Delhi. Key market triggers this week include inflation data, Q1FY25 results, and global cues. Oil prices settle lower as Middle East ceasefire talks impact market.



Read more at Hindustan Times: Latest Market News Today Live Updates July 7, 2024: Hedge funds that piled into big Tesla short stung by huge rally