The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to seven stocks/securities on Friday, July 14, 2023. Hindustan Copper, Punjab National Bank, Manappuram Finance, Indiabulls Housing Finance, ZEEL, Delta Corp, and India Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Friday. 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.
“The Indian markets are expected to open in the green tracking GIFT Nifty. Markets will take cues from India’s WPI inflation for the month of June which is expected to come by noon and the bank’s loan and deposit growth which will be released by RBI,” said Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
“On the technical front, the 50 index gapped up 100 points on opening yesterday tracking global cues and marked a new life-high at 19567 as momentum persisted during the first half of the trading session. However, the index retreated from the high as selling pressure intensified in the second half. This was 5th rejection that the index faced from the intermediate supply zone from 19500-19525 failing to close higher, however the 5 DEMA continues to bolster immediate reliable support. The index is anticipated to attract bullish momentum provided the support of the average line currently trading at 19389 remains intact on a closing basis,” Riches Vanara added.
Hindustan Copper, Punjab National Bank, Manappuram Finance, Indiabulls Housing Finance, ZEEL, and India Cements stocks/securities were put on the F&O ban earlier on Thursday, July 13, 2023.
On Thursday, benchmark indices NSE Nifty 50 and BSE Sensex ended in the green. The Nifty 50 advanced 29.45 points or 0.15% to 19,413.75 and the Sensex gained 164.99 points or 0.25% to 65,558.89. In sectoral indices, Bank Nifty rose 0.06%, Nifty IT jumped 1.75%, Nifty Realty soared 1.02% while Nifty Auto fell 0.68%, Nifty Pharma tumbled 0.43%, Nifty PSU Bank tanked 2.38% and Nifty Oil & Gas plunged 1.17%.