F&O Ban: Delta Corp, India Cements under trade ban on Thursday
Delta Corp and The India Cements.
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.
Meanwhile, the MWPL for The India Cements stood at 80.9% on Wednesday with OI reported by Trendlyne at 19.4 million. It was down 1% from the previous session.
The MWPL for Delta Corp stood at 88.9% on Wednesday with OI reported by Trendlyne at 7.4 million.
It was down 10.3% from the previous session.
Indian frontline indices ended with gains on Wednesday led by a rise in FMCG, IT and pharma stocks. The S&P BSE closed at 66,118, up by 173 points or 0.26%. The broader Nifty50 closed at 19,716, gaining by 52 points or 0.26%.
Meanwhile, banking gauge Nifty Bank settled at 44,588, lower by 35.90 points or 0.02%.
«Nifty ended higher after recovering from morning weakness on September 27. At close, Nifty was up 0.26% or 51.8 points at 19716.5. Nifty formed a bullish engulfing pattern on September 27.
This could mean some more bounce in the Nifty. It could face resistance in the 19798-19849 band while 19637 could offer support in the near term,» Deepak Jasani, Head of Retail Research at HDFC Securities said.
Shares in Asia recovered from early weakness on Thursday as investors grappled with the expectation of higher interest rates and rising oil prices after crude extended a one-year high, he added.
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