The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of six stocks/securities on Wednesday, August 9, 2023. Indiabulls Housing Finance, Delta Corp, Hindustan Copper, Chambal Fertilizers & Chemicals, Balrampur Chini Mills and India Cements are the stocks/securities placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Wednesday. 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 Nifty index displayed volatility but managed to close above the significant 21EMA moving average and maintained support above 19500 points. A positive trend is anticipated as long as the index holds above 19500, with resistance at 19700 and potential for a rally towards 20000,” said Rupak De, Senior Technical analyst at LKP Securities.
On Tuesday, benchmark indices NSE Nifty 50 and BSE Sensex ended in red amid negative global cues. The Nifty 50 dipped 26.45 points or 0.13% to 19,570.85 and Sensex plunged 106.98 points or 0.16% to 65,846.50. In sectoral indices, Bank Nifty rose 126.95 points or 0.28% to 44,964.45, Nifty IT gained 0.15%, Nifty PSU Bank skyrocketed 3.37%, Nifty Pharma soared 0.64% while Nifty Auto fell 0.31%, Nifty FMCG dropped 0.28%, Nifty Metal sank 1.17% and Nifty Realty dipped 0.18%. The top gainers on Nifty 50 were SBI Life Insurance, Hero MotoCorp, Cipla, Tech Mahindra and Wipro, while the top losers were Adani Enterprises, Hindalco Industries, Mahindra & Mahindra, Divi’s Labs and JSW steel.