The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of four stocks/securities on Thursday, August 3, 2023. Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, Piramal Enterprises and Indiabulls Housing Finance 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.
“Global markets saw a sell-off due to rising bond yields after Fitch’s US credit downgrade, fueling risk-off sentiment. Nifty suffered substantial losses, driven by profit booking and sectoral weakness across all indices. Stocks like TISCO, HEROMOTO CORP, and TATA MOTORS tanked 3.4% each amid market uncertainty. Investors should stay cautious, monitor bond yields, and practice risk management in this volatile environment,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
On Wednesday, benchmark indices NSE Nifty 50 and BSE Sensex tanked over 1% and ended in the red zone. The NSE Nifty 50 sank 207 points or 1.05% to 19,526.55, and the 30-share Sensex tanked 676.53 points or 1.02% to 65,782.78. Among the broader market indices- Nifty Next 50 sank 1.35%, Nifty 100 fell 1.08%, Nifty Midcap 50 plunged 1.40%, and Nifty Smallcap 100 sank 1.58%. The volatility index, India VIX soared 9.67%. In sectoral indices, Bank Nifty tumbled 596.80 points or 1.31% to 44,995.70, Nifty Auto plunged 1.66%, Nifty PSU Bank sank 2.61% and Nifty IT fell 0.81%.The top gainers on Nifty 50 were Divis Laboratories, Nestle India, Hindustan Unilever, Asian Paints and Tech Mahindra while the losers were Hero Motocorp, Tata Steel, Tata Motors, Bajaj Finserv and NTPC.