F&O Ban: PNB, LIC Housing, Balrampur Chini among 7 stocks under trading ban on Thursday

Seven stocks are under the F&O ban for trade on Thursday viz. Delta Corp Limited, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Punjab National Bank (PNB), Manappuram Finance, Balrampur Chini Mills, LIC Housing Finance 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 95.3% on Wednesday with OI reported by Trendlyne at 6.8 million. It was down 5.9% from the previous session.

GNFC shares settled at Rs 635.30 on the NSE, up 0.80%.

Meanwhile, the MWPL for Delta Corp stood at 84.9% on Wednesday with OI reported by Trendlyne at 17.4 million. It was down 2.4% from the previous session.

Delta Corp shares closed% higher at Rs 227.10 on Wednesday.

As for PNB, the MWPL stood at 83.4% on Wednesday with OI reported by Trendlyne at 218.3 million. It was down 2.5% from the previous session.

PNB shares closed the session 0.41% up at Rs 49.20 on the NSE.

According to data available on Trendlyne, the MWPL for Manappuram stood at 96.6% on Wednesday with OI reported by Trendlyne at 45.1 million. It was down 3.8% from the previous session.

Manappuram shares ended at Rs 111.60 on Wednesday, down 0.71%.

The MWPL for Balrampur Chini stood at 94.5 % on Wednesday with OI reported by Trendlyne at 7.6 million. It was down 3.4% from the previous session.

Balrampur Chini shares ended at Rs 380, up 0.29% from the previous close.

The MWPL for LIC Housing stood at 97.1 % on Wednesday with OI reported by Trendlyne at 21.1 million. It was down 8.3% from the previous session.

LIC Housing shares settled at Rs 470.45, down by Rs 1.95 or 0.41%.

According to data available on Trendlyne, the MWPL for ABFRL stood at 95.2 % on Wednesday with OI reported by Trendlyne at 28.8 million. It was down 2.7% from the previous session.

ABFRL shares ended at Rs 195.50, down 1.34%.

Indian markets ended Wednesday in the red tracking weakness from their Wall Street peers which have been bogged-down by the debt ceiling crisis. While the S&P BSE Sensex ended at 61,560.64, down by 371 points or 0.60%, the broader market Nifty50 settled at 18,181.75, lower by 104.75 points or 0.57%. In the 50-stock Nifty 50, 15 stocks advanced while 35 closed with declines. Banking gauge Nifty Bank fell by 205 points or 0.47 and closed at 43,698.70.

Nifty fell for the second consecutive session on Wednesday along with their global peers, reflecting risk aversion among investors, as there is no breakthrough in sight yet over the US debt ceiling, Deepak Jasani, Head of Retail Research at HDFC Securities said.

Nifty has crucial support at 18,055, a breach of which could confirm the formation of intermediate top at recent high of 18,459, Jasani said adding that 18,344 could be a resistance in the near term.

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