F&O Ban: Indiabulls Housing, L&TFH, Manappuram under trade ban on Tuesday

Three stocks are under the F&O ban for trade on Tuesday, May 23 viz. Indiabulls Housing Finance Company, Manappuram Finance and L&T Finance Holdings (L&TFH). 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 Indiabulls Housing stood at 98.1% on Monday with OI reported by Trendlyne at 20.7 million. It was down 43.1% from the previous session.

IB Housing Finance shares settled 1.30% higher at Rs 113.40 on the NSE on Monday.

According to data available on Trendlyne, the MWPL for Manappuram stood at 83.6% on Monday with OI reported by Trendlyne at 40.1 million. It was down 6.8% from the previous session.

Manappuram shares ended at Rs 109.10 on Monday, down Rs 1.20 or 1.09%

The MWPL for L&T Housing Finance Holdings stood at 85.7% on Monday with OI reported by Trendlyne at 48.5 million. It was down 4.8% from the previous session.

Shares of L&TFH settled at Rs 99.80 on the NSE on Monday, up 0.15%.

Indian markets ended Monday in the green. While the S&P BSE Sensex settled at 61,964, up 234 points or 0.38%, the broader Nifty50 closed the session 111 points or 0.61% higher at 18,314. In the 50-stock Nifty, 34 advanced, 15 declined and one remained unchanged. Banking gauge Nifty Bank declined 84 points or 0.19% and closed at 43,885.10.

The trading activity for the week started on a flat note on Monday, but picked up towards the end of the day aided by a round of buying, Rajesh Bhosale, Technical Analyst at Angel One said. This resulted in the Nifty closing above 18,300 with a 0.61% gain.

"The bulls have regained control, and as we mentioned in our previous commentary, the base level seems to have shifted higher to the range of 18,050-18,100, while the immediate target is now set on the 18,450-18,500 levels. Traders should maintain a positive bias and view dips as buying opportunities, with immediate support expected around the 18,200 level," Bhosale recommended.

He said that the high beta banking and financial Index showed some tentativeness near its all-time highs, though the broader markets remained active, especially in the IT, metal, and Adani stocks, which experienced impressive movements.

Looking ahead, he anticipates sector rotation to continue leading up to the monthly expiry, and traders should focus on such thematic movements that offer potential for outperformance.

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