F&O Ban: Hindustan Copper, Manappuram Finance under trade ban on Thursday
Hindustan Copper and Manappuram Finance while Balrampur Chini, Bharat Heavy Electricals (BHEL), Granules India, and Indiabulls Housing Finance have moved out of the ban.
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.
MWPL for Hindustan Copper stood at 96.5% on Wednesday with OI reported by Trendlyne at 9.2 million.
It was down 68% from the previous session.
MWPL for Manappuram Finance stood at 97% on Wednesday with OI reported by Trendlyne at 7.7 million. It was down 52% from the previous session.
Indian benchmark indices ended in the green on Wednesday, registering gains in two successive sessions. The gains were led by bank, auto, and IT stocks.
While the S&P BSE Sensex was up by 727.71 points or 1.10% to close at 66,901.91, the broader Nifty50 added 206.90 points or 1.04% to settle at 20,096.60. Banking gauge Nifty Bank finished the day at 44,566.45, gaining 685.50 points or 1.56%.
Analyst Rupak De, senior technical analyst at LKP Securities expects a positive trend when markets resume trading today. «Nifty moved up smartly as the bulls remained at the helm following a consolidation breakout on the daily chart.
