Industry vs product interview and cover letter focus

When applying for a coverage group, obviously there will be many classic IB interview questions. However, how much technical knowledge do you must have about the industry? I have to clarify that this is for an internship position.

Also, this internship is simply called "Coverage Banking Internship" and then you would be allocated to one of 3 industries. So perhaps there will be no focus about the industry during the interview. In this case, should you specify on your cover letter and during the interview your preference for this industry? Thank you in advance

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