The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of four stocks/securities on Monday, August 7, 2023. Indiabulls Housing Finance, Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, and Piramal Enterprises 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 saw some respite after witnessing selling pressure for three consecutive days on the back of India’s services activity rising sharply to 62.3, its highest in 13 years, fuelled by strong demand. Nifty opened the gap up and moved higher to close with handsome gains of 135 points (+0.7%) at 19517 levels. Action was also seen in the broader market with the Nifty midcap 100 and Nifty smallcap 100 up +0.8% each. Except for Auto and PSU Bank, all sectors ended in green with IT, Pharma, Private Bank, and Consumer Durables being top gainers – up more than 1% each. Niche sector like E-commerce was also in focus after Zomato reported an excellent set of numbers and turned PAT positive,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, and Piramal Enterprises stocks/securities were put on the F&O ban earlier on Friday, August 4, 2023.
On Friday, benchmark indices NSE Nifty 50 and BSE Sensex ended in the green, with gains led by IT, Pharma and Private Banks. The NSE Nifty 50 surged 135.35 points or 0.70% to 19,517, and the 30-share Sensex climbed 480.57 points or 0.74% to 65,721.25. Among the broader market indices, Nifty Next 50 climbed 0.79%, Nifty 100 gained 0.71%, Nifty Midcap 100 soared 0.82%, Nifty Midcap 50 surged 0.79%, and Nifty Smallcap 50 rose 0.74%. The volatility index, India VIX tanked as much as 5.47%. In sectoral indices, Bank Nifty surged 0.82%, Nifty Financial Services climbed 0.79%, Nifty IT soared 1.55%, Nifty Metal gained 0.31%, Nifty Pharma climbed 0.94%, and the Nifty Private Bank soared 1.25%, while Nifty Auto fell 0.33% and the Nifty PSU Bank plunged 0.70%.
The top gainers on the Nifty 50 were Cipla, IndusInd Bank, Tech Mahindra, Wipro and Bharti Airtel, while the losers were State Bank of India, Bajaj Auto, BPCL, Maruti Suzuki India and NTPC.