The Nifty Auto index was trading 0.48 per cent up at 14198.55.

The Nifty Pharma index was trading 0.45 per cent down at 12544.65.

The Nifty Realty index was trading 0.87 per cent up at 476.65.

Indiabulls Housing Finance Company and Delta Corp have been placed under a trade ban on 25 May due to the open interest on their stocks exceeding 95% of market-wide position limits (MWPL) for Future & Options contracts. The ban will only be lifted when the open interest falls below 80%. Traders in indices will not be affected. The MWPL for Indiabulls Housing stood at 81.1% on Wednesday while Deltas MWPL stood at 92.8%. The broader Nifty50 index settled at 18,285.40, lower by 62.60 points or 0.34%.

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Indiabulls Housing Finance Company and Delta Corp are the two stocks under trade ban on May 23. The availability of banned stocks for trading in the cash market remains the same. An open interest of over 95% of the market-wide position limit places a stock in the ban period, which continues until open interest falls below 80%. Traders who trade in indices do not face a security ban. Nifty gained momentum to close above 18,350 levels, and its lower-end support stands at 18,200 levels.

Foreign portfolio investors net bought about Rs 182 crore on Tuesday. DIIs too were net buyers in Indian equity markets at Rs 397 crore.

Three stocks have been banned for trade under Future & Options on Tuesday, May 23, due to crossing the 95% open interest on these stocks. The three stocks include Indiabulls Housing Finance, Manappuram Finance and L&T Finance Holdings (L&TFH). 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%.

Option data suggests a broader trading range in between 18000 to 18500 zones while an immediate trading range in between 18150 to 18450 zones.

Several popular companies such as ONGC, M&M, Vodafone Idea, HUDCO, Shree Cements, BPCL, LIC, Nykaa, and Hindalco among others, are expected to release their quarterly earnings report later this week. The list of companies to report their results on each day include names such as Ashok Leyland, Sun Pharma, Aditya Birla Fashion and Retail, Grasim Industries, Radico Khaitan, Finolex Industries, and Hindustan Tin Works amongst others, during the period of May 22-27.

The Delhi-based Trident Realty Group has acquired Shipra Mall in Ghaziabad, Uttar Pradesh from Indiabulls Housing Finance Ltd and Edelweiss Asset Reconstruction Company Ltd for Rs 551 crore. The acquisition will be the group's first retail project, but they will continue to look for such opportunities in city centres where there is already a residential catchment.

The court was hearing two appeals filed by the Union Bank of India and Indiabulls Asset Reconstruction Company Ltd respectively, being the financial creditors of the corporate debtor - Supertech Ltd, against the order dated June 10 2022 passed by the National Company Law Appellate Tribunal (NCLAT, Principal Bench, New Delhi).

The ED searched the Mumbai offices of Deloitte Haskins & Sells (DHS), the Indian arm of Deloitte, and KPMG associate firm BSR & Co. DHS had rotated out as IFIN's auditor in fiscal 2018,while BSR resigned from the role in June 2019 after allegations of irregularities at the non-bank finance company came to light.

The merger sanctioned by Bengaluru bench the NCLT, which has jurisdiction over NAM Estates and Embassy One on April 22, 2022.

The merger sanctioned by Bengaluru bench the NCLT, which has jurisdiction over NAM Estates and Embassy One on April 22, 2022.

"Indiabulls Real Estate (IBREL) regrets to inform its shareholders and the public that the sanction to the merger of NAM Estates Private (NAM Estates) and Embassy One Commercial Property Developments (Embassy One) into IBREL has been withheld by the Honble National Company Law Tribunal (NCLT), Chandigarh Bench," Indiabulls said in an exchange filing.

The transaction had received approval from Competition Commission of India in September 2021. The closing date of the deal was May 3, the filing said.

This comes almost two years after Groww inked a definitive agreement in May 2021 to acquire the mutual fund business of IBHFLs subsidiaries Indiabulls Asset Management Company Ltd (IAMCL) and Indiabulls Trustee Company Ltd (the trustee of IAMCL).

A Bench led by Justice V Ramasubramanian while issuing notice to parties asked banks and financial institutions not take any coercive steps against the buyers for non-payment on such loan accounts till the next date of hearing.

Mantri Developers, a Bangalore-based real estate company, has been admitted to the insolvency process by the National Company Law Tribunal (NCLT) after it defaulted on dues of over INR456.68 crore ($6.2m). Meanwhile, Ahsan Ahmad has been appointed as the insolvency resolution professional (IRP) to oversee the proceedings of the insolvency resolution. Indiabulls Housing Finance Ltd applied for insolvency as the firm missed its loan obligations on 1st January 2022.

The infusion of debt capital will happen through a jointly-formed special purpose vehicle (SPV) which would float instruments like debentures that Indiabulls and Oaktree would subscribe to.

Reserve Bank of India Governor Shaktikanta Das has defended the write-off of Yes Bank's additional tier 1 (AT1) bonds, stating that the ecosystem remains stable and forms part of Basel III regulations. The RBI had requested that the consortium led by the State Bank of India take over Yes Bank after it nearly collapsed in March. As part of the deal, the AT1 bonds that had been issued by the lender and totalled approximately INR83bn ($1.13bn) were fully written off, however, the move was challenged by a group of investors.

Crisil 10-year Gilt Index and Nifty 10 yr Benchmark G-Sec were up by 3.41% and 3.17% respectively.

Auto companies will be in focus on Monday after the companies reported sales updates for the month of March. Maruti Suzuki and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date.

Auto companies will be in focus on Monday after the companies reported sales updates for the month of March. Maruti Suzuki and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date.

Indiabulls Housing Finance Ltd (IHFL) had moved the Bengaluru bench of the National Company Law Tribunal (NCLT) claiming a default of Rs 456.68 crore by Mantri Developers, part of the Mantri Group of Companies engaged in the real-estate business in Bengaluru, as on January 1, 2022.

"The Nifty witnessed an extremely volatile day of trade on Friday. It was consolidating in a narrow range during the first half of the session. However, as the day progressed and especially during the last couple hours of the trading session the Nifty witnessed intense selling pressure which dragged the Nifty lower to close with a cut of 132 points," Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas said.

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%.

"The daily momentum indicator triggered a fresh positive crossover on Wednesday, which is a buy signal. Also, we believe that the pullback is not yet complete and we expect it to continue over the next few trading sessions," Gedia said.

Asian stocks struggled Thursday in the wake of a slump on Wall Street after Treasury Secretary Janet Yellen rattled bank shares and the Federal Reserve pushed back against bets for interest rate cuts this year. Benchmark indexes fell in Japan, South Korea and Australia while a gauge of US-listed Chinese companies fell earlier.

"We expect the positive momentum to continue over the next few trading sessions. On the hourly charts we can observe positive divergence along with a positive crossover on the momentum indicator which indicates loss of momentum on the downside and shall provide speed to the current pullback," Gedia said.

"We advise investors to remain cautious, as markets are likely to remain volatile ahead of the Fed's meeting outcome on Wednesday late evening. US Feds commentary amidst the ongoing financial crisis would be of key importance and can provide some direction to the markets," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

“It closed on a negative note though well off the intraday lows indicating buying interest at lower levels. On the hourly charts, we can observe that the momentum indicator has triggered a positive crossover which is a buy signal. Thus, we expect the Nifty to continue with the positive momentum which has started during the second half of Mondays trading session for the next trading session as well,” Gedia said.

"The market is now awaiting the outcome of the Fed meeting to see how they will respond to the ongoing crisis, particularly in terms of rate hikes. Investors expect the central bank to raise interest rates by 0–25 basis points," said Vinod Nair, Head of Research at Geojit Financial Services.

“We expect the Nifty to consolidate between these two parameters from the next few trading sessions. we believe that the pullback rally has some more steam left and the nifty is likely to carry on this positive momentum next week as well,” the Sharekhan analyst said.

"Metal stocks could see some momentum after Chinas central bank cuts CRR by 25bps in an effort to stimulate its economy. Realty stocks are seeing buying interest post DLF announcement of record sales growth. With oil hovering at 15-month low, cement, paints and OMCs would also be in focus," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

According to data available on Trendlyne, the MWPL of GNFC stood at 82.5% as on 16 March with the open interest at 7.7 million. The OI day change was at negative 2.3%.

Option data suggests a broader trading range in between 16600 to 17500 zones while an immediate trading range in between 16800 to 17300 zones.

On Wednesday, GNFC shares ended at Rs 529.30 on the NSE and were up by Rs 4.10 or 0.77% despite a lacklustre trade in the broader markets. Meanwhile, the benchmark indices BSE Sensex and NSE Nifty have been in a falling trend over the past five trading sessions on the back of twin banking disasters in the US.

On the performance of benchmark index Nifty50, Osho Krishan, Senior Analyst - Technical & Derivative Research at Angel One said that Nifty50 continued its southward journey for the fourth consecutive session to test sub-1700 levels, inferring weakened sentiment.

Equity mutual funds, which attracted inflows of Rs 15,685 crore in February, bought shares of Interglobe Aviation or IndiGo, PSU stock GAIL, realty player Macrotech Developers, Tata Motors, Tech Mahindra, HDFC AMC, PVR, Indiabulls Housing Finance and Nazara Technologies.

A study of BSE500 stocks shows that there are at least 4 smallcap counters that are trading below half of their book value. In other words, their PB ratio has gone below 0.50x. Whenever the indicator slips below 1, the underlying is usually believed to be underpriced by the market.