NSE F&O Ban- India Cements, Hindustan Copper, Delta Corp, other stocks under ban on September 8, Friday

NSE F&O Ban: India Cements, Hindustan Copper, Delta Corp, other stocks under ban on September 8, Friday

The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of nine securities on Friday, September 8, 2023. Punjab National Bank, Balrampur Chini Mills, BHEL, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, and SAIL are the 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 benchmark equity indices ended Thursday’s trading session in the green with the help of PSU Bank and Realty stocks. After a volatile start, there was a sharp rebound across the markets taking the Nifty well past the key resistance zone around 19,650 and the Index finally closed at 19,727.05, while the BSE Sensex added 385.04 points to settle at 66,265.56. The Bank Nifty showed a trend reversal and climbed 1.06% to 44,878.35. The broader indices traded largely in the green. The gains were led by realty, PSU Bank and media stocks while the FMCG, pharma stocks saw some correction.

“Nifty index is expected to find support in the 19,430-19,500 zone. In terms of options data, the highest Open Interest (OI) on the call side was observed at 19,750 followed by 19,650 strike prices, indicating potential resistance levels. On the flip side, Bank Nifty is anticipated to find support at the 44,300-44,200 range, with resistance levels at 45,400-45,500, as per OI data analysis. Overall, the market displayed resilience and bullish momentum, offering opportunities for traders and investors alike,” said Ameya Ranadive, CMT CFT, Equity Research Analyst, Choice Broking.