The Economic Times daily newspaper is available online now.

    F&O Ban: Balrampur Chini, GNFC, Manappuram among 6 stocks under ban on Monday

    Synopsis

    Six stocks, including Delta Corp and L&T Finance, are under trading bans on May 22, owing to open interest levels crossing 95% of the market-wide limit. However, Future and Options contracts will still remain on the market. The ban will be reversed when open interest falls below 80%. Traders in indices won't face a security ban. Nifty50 closed higher and Sensex was up by almost 300 points, amidst which analysts predict the upcoming period to continue upward momentum.

    F&O Ban: Balrampur Chini, GNFC, Manappuram among 6 stocks under ban on MondayETMarkets.com
    Six stocks are under a ban for trade on Monday, May 22, namely Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Manappuram Finance, Balrampur Chini Mills, L&T Finance Holdings and Aditya Birla Fashion and Retail (ABFRL).

    The banned stocks 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 GNFC stood at 80.2% on Friday with OI reported by Trendlyne at 5.9 million. It was down 1.6% from the previous session.

    GNFC shares settled at Rs 590.90 on the NSE on Friday and were down by Rs 11.45 or 1.90%.

    Meanwhile, the MWPL for Delta Corp stood at 80.1% on Friday with OI reported by Trendlyne at 16.5 million. It was down 1.8% from the previous session.

    Delta Corp shares closed at Rs 219.10 on Friday, Rs 2.95 or 1.33% lower.

    According to data available on Trendlyne, the MWPL for Manappuram stood at 88.8% on Friday with OI reported by Trendlyne at 43 million. It was down 2.8% from the previous session.

    Manappuram shares settled 0.72% lower on Friday at Rs 110.40 apiece.

    The MWPL for Balrampur Chini stood at 80.6% on Friday with OI reported by Trendlyne at 6.7 million. It was down 7.8% from the previous session.

    Balrampur Chini shares ended at Rs 388.50, up Rs 3.90 or 1.01%.

    According to data available on Trendlyne, the MWPL for ABFRL stood at 84.1 % on Friday with OI reported by Trendlyne at 26.2 million. It was down 5.8% from the previous session.

    ABFRL shares ended at Rs 190.80, down Rs 2.90 or 1.50%.
    ts, Krishan said further.

    The MWPL for L&T Housing Finance Housing stood at 90.5 % on Friday with OI reported by Trendlyne at 2.2 million. It was down 81.3% from the previous session.

    Indian markets ended Friday in the green. While the S&P BSE Sensex ended at 61,729.68, up by 297.94 points or 0.48%, the broader Nifty50 settled at 18,203.40, higher by 73.45 points or 0.41%. In the 50-stock Nifty, 30 stocks advanced while 20 closed with declines. Banking gauge Nifty Bank gained by 217 points or 0.50 and closed at 43,969.40.

    "Amidst all the hustles, Nifty concluded the week with a cut of nearly 0.60 percent and settled a tad above the 18200 level. Technically, the recent correction was certainly expected post the decent run and the overall chart structure remains robust, with bulls firmly able to withhold the pivotal support," Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One said.

    "Even on the hourly chart, the formation of the ‘Wolfe Wave’ pattern with the positive divergence in the RSI-smoothened contributes to the positive development for the index, and we may expect the runup to continue in the coming period. On the technical levels, the 18,050-18000 was firmly safeguarded, showcasing the importance of pivotal support and is expected to act as a sheet anchor in the comparable period. On the higher end, 18400-18450 is likely to act as the sturdy wall and a decisive breach would only trigger fresh longs in the system in the future," he said.

    Going forward, we remain sanguine with a robust approach post the price-wise correction in the index. Also, the banking index is nearing the lifetime high zone, and any breach could contribute to the upliftment of the market sentiment.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in