In the latest development in the Indian stock market, the National Stock Exchange (NSE) has announced a ban on trading in nine stocks under the futures and options (F&O) segment for Friday, March 15, 2024. This decision comes as these securities breached 95 percent of the market-wide position limit (MWPL), as reported by the NSE.
The affected stocks, including Aditya Birla Fashion and Retail, BHEL, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals, and ZEEL, will not be available for trading in the F&O segment. However, they will remain open for trading in the cash market.
The NSE regularly updates the list of securities placed under the F&O ban, taking into account their market-wide position limits. As per NSE regulations, clients and members are advised to trade only to reduce their existing positions in derivative contracts of the banned securities. Any increase in open positions during this period may result in penal and disciplinary action.
During Thursday’s trading session, the benchmark Sensex witnessed a significant rebound, closing 335 points higher. The Nifty also saw a positive trend, closing above the 22,100 level. This recovery was attributed to buying in IT and capital goods shares, which helped broader markets recuperate from the previous day’s losses.
The BSE Sensex settled at 73,097.28, with 20 of its constituents ending in the green. The Nifty closed at 22,146.65, with 37 components settling higher. Notably, the BSE Smallcap and midcap indices witnessed a notable surge, indicating a broader market recovery.
Various sectors contributed to the market rebound, with services, telecommunication, utilities, oil & gas, power, industrials, and commodities showing significant gains. However, the Bankex index emerged as the only laggard among the sectors.
The overall market sentiment remains cautiously optimistic as investors monitor global cues and domestic developments amid ongoing volatility.
