Indiabulls HF placed under F&O ban on NSE again for July 5; check details
Indiabulls Housing Finance has been put under the ban for trade on Wednesday July 5, 2023 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The security has been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stock will be available for trading in the cash market.
The NSE updates the list of securities in F&O ban for trade everyday. The derivative contract 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.
‘’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.
The record-setting spree of the Indian market continued on July 4 as the frontline indices Sensex and the Nifty settled at their record closing highs for the fourth consecutive session.
The Indian market has been on an upward trajectory on robust foreign capital inflow amid the country’s bright macroeconomic outlook. Analysts and brokerage firms remain bullish on the medium and long-term outlook of the Indian market. It was the fifth consecutive session of gains for Sensex whereas for Nifty it was the sixth consecutive session of gains.
BSE Midcap and Smallcap indices also hit their fresh record highs of 28,951.49 and 32,990 respectively during the session. The BSE Midcap index closed 0.22 per cent lower at 28,798.91 while the Smallcap index closed with a nominal gain of 0.05 per cent at 32,802.63.
‘’The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results. Pharma and banking displayed a positive trend, while the auto sector faced selling pressure following a mixed set of sales data for the month of June,” said Vinod Nair, Head of Research at Geojit Financial Services.
Where is Nifty headed?
‘’One should maintain a buy on dips approach on nifty and avoid any short position until breaks 19,200. The immediate support for the nifty index stands at 19,300 where maximum open interest in put options data is seen and on the upper end nifty can face resistance at 19,500 where maximum open interest in calls is seen ,if nifty breaks 19,500 levels we can see some further upside move towards 19,700,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
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Updated: 04 Jul 2023, 09:48 PM IST
