F&O Ban: Delta Corp, GNFC under trade ban on Thursday
Delta Corp and Gujarat Narmada Valley Fertilizers (GNFC).
The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.
Traders who trade in indices do not encounter a situation of security ban.
The MWPL for Delta Corp stood at 97.8% on Wednesday with OI reported by Trendlyne at 15.5 million.
It was up 10.9% from the previous session.
MWPL for GNFC stood at 90.2% on Wednesday with OI reported by Trendlyne at 9.8 million. It was down 1% from the previous session.
Indian frontline indices ended with gains on Wednesday led by a rise in pharma, FMCG and auto stocks. While the S&P BSE Sensex gained by 33.21 points or 0.05% to close at 64,975.61, the broader Nifty50 was up 36.80 points or 0.19% to settle at 19,443.50.
Banking gauge Nifty Bank finished the day at 43,658.65, down by 79.25 points or 0.18%.
«The Nifty opened on a flat note and closed with gains of 37 points. On the daily charts, we can observe that the Nifty has been consolidating around the resistance zone of 19450 – 19500 where both the Bulls and Bears are trying to defend their respective boundaries. The hourly momentum indicator has a negative crossover which is a sell signal and can lead to more consolidation,» Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
