F&O Ban: Indiabulls Housing re-enters ban on Monday
Indiabulls Housing Finance again entered the F&O ban for trade on Monday, July 3, 2023. However, the stock will be available for trading in the cash market. The future & options 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 Indiabulls Housing stood at 97.2% on Friday with OI reported by Trendlyne at 59.5 million.
It was up 9.9% from the previous session.Indiabulls Housing shares ended at Rs 123.30 on Friday, up by Rs 7.15 or 6.16% from the previous closing price. Indian headline indices S&P BSE Sensex and Nifty50 recorded their new all-time highs and ended Friday with gains. While the Sensex closed at 64,718.56, up by 803 points or 1.26%, the broader Nifty50 finished at 19,189.05, higher by 216.95 points or 1.14%.
Nifty Bank settled with gains of 419 points or nearly 1% over Wednesday closing at 44,747.35. «Nifty rose for the fourth straight session to end the day with gains of 217 points to close at a new all-time high of 19,189. For the week, Nifty was up by 2.8%.
BankNifty closed at 44,787 also a fresh all-time high. Investors remain positive about the long-term prospects of the domestic market due to healthy macroeconomic indicators while global cues are also improving as concerns over a recession in the US eases,» Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities said. Commenting on the day's outlook Vakil said that the previous resistance of 18,887 is expected to interchange its role as a support for the Nifty going forward.(Disclaimer: Recommendations,
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