On Tusday, July 11, NSE Nifty 50 rose 83.50 points or 0.43% to 19,439.40 and BSE Sensex surged 273.67 points or 0.42% to 65,617.84.
The National Stock Exchange (NSE) banned the trading in futures and options (F&O) of up to eight stocks/securities on Wednesday, July 12, 2023. Punjab National Bank, Manappuram Finance, Delta Corp, Indiabulls Housing Finance, ZEEL, India Cements, Granules India, and BHEL 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.
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“Markets may log steady gains in early trades Wednesday thanks to a sharp upsurge in the overnight US markets. With Asian indices, too, witnessing strong gains, local indices could advance further, even as concerns of the market being in an overbought position looms. Investors will focus on inflation numbers set to be announced later in the day, while IT majors TCS and HCL Tech would set the tone with their Q1 results, which could give some indication of the global IT sourcing scenario and the outlook on the same. Amid uncertain global environment and a slowdown in discretionary spending by clients, the June quarter earnings are seen to be weaker than expected,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
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Punjab National Bank, BHEL, Delta Corp, Indiabulls Housing Finance, ZEEL, India Cements, and Granules India stocks/securities were put on the F&O ban earlier on Tuesday, July 11, 2023.
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On Tuesday, the domestic indices NSE Nifty 50 and BSE Sensex ended broadly in green. The NSE Nifty 50 rose 83.50 points or 0.43% to 19,439.40 and BSE Sensex surged 273.67 points or 0.42% to 65,617.84. In sectoral indices, Bank Nifty fell 0.26%, Nifty Financial Services tumbled 0.44% while Nifty Auto soared 1.39%, Nifty FMCG jumped 1.23% and Nifty Pharma gained 1.04%.
