The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to seven stocks/securities on Friday, July 21, 2023. Manappuram Finance, Indiabulls Housing Finance, Delta Corp, RBL Bank, L&T Housing Finance, Balrampur Chini Mills, and Punjab National Bank 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.
“The market is witnessing frenzied buying support from foreign investors, and it’s just a matter of time that the benchmark Nifty will top the 20K mark. Such has been the rally that some of the mild negative flows too are getting discounted in this bull run. Technically, after a muted opening the index took support near 19750 and reversed. On daily charts, it has formed a bullish candle, and on intraday charts it is holding a higher bottom formation, which is largely positive. However, the short-term texture of the market is overbought, hence we could see some profit booking at higher levels,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
Manappuram Finance, Indiabulls Housing Finance, Delta Corp, RBL Bank, L&T Housing Finance, and Polycab were the stocks/securities that were put on the F&O ban earlier on Thursday, July 20, 2023.
On Thursday, the benchmark indices NSE Nifty 50, and BSE Sensex made new all-time highs amid positive domestic market sentiment and ended Thursday’s trading session broadly in green. The Nifty 50 jumped 146 points or 0.74% to close at 19,979.15 after making a new 52-week high of 19,991.85 intraday. The Sensex surged 474.46 points or 0.71% to settle at 67,571.90 after hitting a fresh all-time high at 67,619.17 intraday.
In sectoral indices, Nifty Bank jumped 1.13%, Nifty Auto gained 0.41%, Nifty Private Bank rose 1.15%, Nifty Financial Services gained 1.02%, Nifty Pharma surged 1.46%, and Nifty Media jumped 1.11% while Nifty IT slipped 0.66%.