The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of nine stocks/securities on Friday, August 11, 2023. Zee Entertainment, Granules India, Manappuram Finance, Chambal Fertilisers, Can Fin Homes, Delta Corp, Indiabulls Housing Financial, 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 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.
“Domestic equities got spooked post the hawkish commentary from RBI. Though RBI kept its Repo rate status quo unchanged at 6.5%, it revised the inflation estimates for FY24 upwards to 5.4% and imposed an incremental CRR of 10% in the near term. Nifty thus opened lower cautiously awaiting the outcome and witnessed sell-off post the RBI statement. It finally closed with a loss of 89 points (-0.5%) at 19543 levels. Even broader market ended in losses with the majority of the sectors in the red. Media was the biggest gainer post positive NCLT verdict received by Zee for its merger with Sony. Apart from Media, Metals and Oil & Gas managed to close in green. Markets will now take cues from US inflation data which will be released late Thursday as the data would further provide insights into Fed’s future policy decision,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
On Thursday, domestic indices ended in the red after RBI MPC kept the key repo rates unchanged and raised the inflation forecast. The NSE Nifty 50 tanked 89.45 points or 0.46% to 19,543.10 and BSE Sensex sank 307.63 points or 0.47% to 65,688.18. In sectoral indices, Bank Nifty plunged 338.90 points or 0.76% to 44,541.80, Nifty FMCG tumbled 0.91%, Nifty Pharma fell 0.74, Nifty PSU Bank plunged 0.81% while Nifty Media jumped 6.63%. The top gainers on Nifty 50 were Adani Enterprises, Adani Ports, IndusInd Bank, Titan and ONGC while the losers were Asian Paints, Kotak Bank, Britannia, ITC and Nestle India.