The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of five stocks/securities on Thursday, August 10, 2023. Chambal Fertilisers, Delta Corp, Indiabulls Housing Finance, Hindustan Copper 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.
“Nifty defied expectations by ending the day at its highest point, even in the face of hurdles like soaring oil prices and uninspiring cues from Wall Street. The market mood brightened due to hopes of a more accommodative RBI stance, causing Nifty sellers to hesitate. This sentiment shift led to increased interest from bullish investors, driven by short covering and value-based buying. For the upcoming session, a crucial support level is seen at 19,413 for Nifty. The technical outlook would turn positive if Nifty consistently trades above 19,757, indicating potential control by bullish forces. Overall, despite challenges, Nifty’s unexpected resilience and evolving market dynamics are noteworthy,” said Prashanth Tapse, Senior VP Research Analyst at Mehta Equities.
On Wednesday, benchmark Indices NSE Nifty 50 and BSE Sensex ended in the green, with gains led by Metal and Media. The NSE Nifty 50 climbed 61.70 points or 0.32% to 19,632.55 and BSE Sensex gained 149.31 points or 0.23% to 65,995.81. In sectoral indices, Bank Nifty fell 83.75 points or 0.19% to 44,880.70, Nifty Financial Services fell 0.21%, Nifty PSU Bank slipped 0.10% and the Realy Index tanked 1.28%, while Nifty IT gained 0.37%, Nifty Pharma surged 0.76% Nifty Auto climbed 0.93%, Nifty FMCG rose 0.54%, Nifty Metal surged 2.03% and Nifty Media soared as much as 2.10%. The top gainers on Nifty 50 were Dr Reddy’s Labs, JSW Steel, Hindalco Industries, Tata Motors and Mahindra & Mahindra, while the top losers were Divi’s Labs, Apollo Hospitals Enterprise, Maruti Suzuki India, Bajaj Finance and Asian paints.