The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of three stocks/securities on Friday, August 4, 2023. 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 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.
“In a tumultuous market scenario, the Nifty index faced vulnerability due to rising bond yields after the US sovereign credit rating downgrade. This triggered a global market decline and increased uncertainty, leading to profit booking and caution among investors. However, the BSE Midcap and Smallcap indices shrugged off the weak sentiment and logged decent gains. For NIfty, the technical support is at 19200, with resistance at 19500. Investors must stay cautious and monitor market developments closely amid the ongoing uncertainty,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
On Thursday, benchmark indices, NSE Nifty 50 and BSE Sensex continued their downward trend from the previous session and ended Thursday’s trading session in the red zone. The NSE Nifty 50 crashed 144.90 points or 0.74% to 19,381.65 and the 30-share Sensex tumbled 542.10 points or 0.82% to 65,240.68. Among the broader market indices- Nifty Next 50 sank 0.74% and Nifty 100 plunged 0.70%, while Nifty Midcap 50 gained 0.139%, and Nifty Smallcap 100 rose 0.12%. The volatility index, India VIX surged 0.82%. In sectoral indices, Bank Nifty tanked 1.07%, Nifty Auto fell 0.32%, Nifty Financial Services tanked 1.17%, Nifty IT slipped 0.24%, Nifty Metal fell 0.47% and the Nifty Realty Index tanked 1.78% while Nifty Media surged 0.91%, Nifty Pharma soared 1.04% and Nifty Healthcare Index jumped 0.68%.
The top gainers on Nifty 50 were Adani Enterprise, Adani Ports & Special Economic Zone, Eicher Motors, Divi’s Labs and Hindalco Industries, while the top losers were Titan Company, ONGC, Bajaj Finserv, ICICI Bank and Nestle India.