The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of eleven stocks/securities on Thursday, August 17, 2023. India Cements, Hindustan Copper, GNFC, SAIL, Chambal Fertilisers, Delta Corp, Granules India, ZEEL, Indiabulls Housing Finance, Manappuram Finance, and Balrampur Chini Mills are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Thursday. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
“Domestic equity had a weak opening but saw a smart recovery towards the end amid a drop in UK inflation and short covering ahead of the FOMC meeting minutes release along with US IIP data. Nifty opened lower but gradually climbed up to close marginally positive with gains of 30 points at 19,465 levels. The action was seen in the Nifty smallcap, which was up 0.58%. Sectorially it was a mixed bag with buying seen in Realty, Pharma, IT, and Auto. EV focus companies were in the limelight after the government approved Rs 57,613 crore for EV Bus Services,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
“The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch’s warning to downgrade US midsized banks. Even on the domestic front sharp surge in inflation data and weak monsoon progress in the month of August 2023 seems to have dented the investor’s sentiments. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,” Siddhartha Khemka added.
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India Cements, GNFC, Chambal Fertilisers, Delta Corp, Granules India, ZEEL, Indiabulls Housing Finance, Manappuram Finance, and Balrampur Chini Mills securities were put on the F&O ban earlier on Wednesday, August 16, 2023.
On Wednesday, domestic indices ended in the green. The NSE Nifty 50 rose 30.45 points or 0.16% to 19,465 and BSE Sensex climbed 137.50 points or 0.21% to 65,539.42. In sectoral indices, Bank Nifty plunged 0.33%, Nifty Financial Services tumbled 0.34%, Nifty Private Bank fell 0.46%, and Nifty Metal tanked 0.94%, while Nifty Media soared 1.20%, Nifty FMCG rose 0.41%, Nifty IT gained 0.59%, and Nifty Pharma climbed 0.61%. The top gainers on Nifty 50 were Apollo Hospital Enterprises, Ultratech Cement, NTPC, Infosys and Tata Motors, while the top losers were Tata Steel, Adani Ports, Hindalco Industries, HDFC Life Insurance and Bharti Airtel.
