With shorts running for cover, banks could lead any rebound

Some of the short positions were squared off in Wednesday's session, helping the Bank Nifty gain nearly 2% to end at 36,364.90 while the benchmark Nifty advance 1.1% to 17,166.90. IndusInd Bank rose 5.7%, Axis gained 3.5% and SBI moved up 3.1% on Wednesday.

via Economictimes