A total of five stocks have been put under the ban for trade on Friday, June 23, 2023 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they have crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.
Bharat Heavy Electricals Ltd (BHEL), Hindustan Copper Ltd, L&T Finance Holdings, RBL Bank, and Punjab National Bank are the five stocks that are a part of the F&O ban list by the stock exchange for Friday. The NSE updates the list of securities in F&O ban for trade everyday.
The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE on June 22.
‘’It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action,” said NSE. No fresh positions are allowed for any of the F&O contracts in the particular stock when it is placed under the F&O ban period by the stock exchanges.
Also Read: Sensex, Nifty snap two-day winning run; investors lose over ₹2 lakh crore in a day
Snapping their two-day winning run, key equity indices Sensex and Nifty ended lower on June 22 mirroring weak global sentiment as the risk appetite of investors remained low on concerns over rate hikes after Federal Reserve chairman Jerome Powell said the US Fed would bring more hikes this year.
Sensex opened at a fresh all-time high level of 63,601.71 against the previous close of 63,523.15 but failed to hold altitude and closed 284 points, or 0.45 per cent, lower at 63,238.89. The Nifty ended the day at 18,771.25, down 86 points, or 0.45 per cent.
Shares of Reliance Industries, Infosys, Bajaj Finance, Asian Paints and Tata Steel ended as the top drags on the Sensex index. Mid and smallcaps also suffered losses; the BSE Midcap index ended with a loss of 1.07 per cent while the Smallcap index ended 0.64 per cent lower.
The overall market capitalisation of the firms listed on BSE dropped to ₹292.3 lakh crore from ₹294.4 lakh crore in the previous session, making investors poorer by ₹2.1 lakh crore in a single day.
‘’Markets witnessed a roller-coaster ride on the weekly expiry day and settled marginally in the red. After the flat start, Nifty tried crossing the record high again but profit taking in heavyweights across sectors gradually pushed the index lower. It attempted to recoup losses in the middle but in vain,” said Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.
‘’We’re seeing profit taking at higher levels due to feeble global cues but the tone is still positive. The real challenge is to handle positions amid choppiness. We suggest keeping a check on trades and advise preferring hedged bets until the market clears the air over the next directional move,” added Mishra.
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Updated: 22 Jun 2023, 09:22 PM IST