BHEL, India Cements, 2 others placed under F&O ban on NSE for July 10; check details

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Bharat Heavy Electricals Ltd (BHEL), Delta Corp, Granuls India, and India Cements are the four stocks that are a part of the F&O ban list by the stock exchange for Monday. 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.

‘’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 placed under the F&O ban period by the stock exchanges.

Also Read: India's forex reserves rise by $1.85 billion to $595.05 billion; foreign currency assets at $527.9 billion The domestic equity market snapped its winning streak and suffered strong losses on Friday, July 7, as investors jumped to take some money off the table amid weak global cues. Concerns over rate hikes grew stronger amid strong US macro data. US economic data showed that the world's largest economy remains strong despite a series of rate hikes by the US Fed.

Investors now fear that the Fed will raise rates later this month and keep them at elevated levels for a longer-than-expected period to bring inflation sustainably down. Sensex opened at 65,559.41 against the previous close of 65,785.64 and hit its fresh record high of 65,898.98 but it slipped into the red soon, plunging 610 points to hit the intraday low of 65,175.74. The 30-share index closed with a loss of 505 points,