The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of nine stocks/securities on Monday, August 14, 2023. Zee Entertainment, Delta Corp, Granules India, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, Balrampur Chini Mills and Chambal Fertilisers & Chemicals are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Monday. 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 equities continued with its weakness on account of subdued global cues and hawkish commentary from RBI. Nifty witnessed selling pressure for the second consecutive day to close with a loss of 115 points or 0.6% at 19,428. Except for PSU Bank and Consumer Durables, all sectors ended in red. The result season is now coming to an end. Overall the earnings have been in the expected line. In the absence of any major trigger and uncertain global cues, we expect the market to consolidate in the range,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Zee Entertainment, Granules India, Manappuram Finance, Chambal Fertilisers, Can Fin Homes, Delta Corp, Indiabulls Housing Financial, Hindustan Copper, and Balrampur Chini Mills stocks/securities were put on the F&O ban earlier on Friday, August 11, 2023.
On Friday, domestic indices ended in the red. The NSE Nifty 50 tanked 114.80 points or 0.59% to 19,428.30 and BSE Sensex sank 363.53 points or 0.56% to 65,322.65. The broader markets also ended in the red, with the Nifty 100, Nifty 200 and Nifty 500 ending lower by 0.5%. Nifty Smallcap fared better, ending lower by 0.18%. In sectoral indices, Bank Nifty tumbled 342.70 points or 0.77% to 44,199.10, Nifty FMCG sank 0.73%, Nifty Pharma sank 1.45%, Nifty Media tanked 1.83% and Nifty IT fell 0.16%, while Nifty PSU Bank soared 1.25%. The top gainers on Nifty 50 were HCL Technologies, Power Grid, Titan Company, Tata Steel and UltraTech Cement while the losers were IndusInd Bank, SBI Life Insurance, UPL, Tata Consumer Products and Asian Paints.