For trade on Wednesday, Hindustan Copper is the only stock being banned. The news come under the futures and options (F&O) segment, from the National Stock Exchange (NSE).
Hindustan copper will be available for trading only in the cash market on 3rd April 2024.
Reason for Ban on Hindustan Copper
Hindustan Copper recently crossed 95% of the Market Wide Position Limit (MWPL). According to NSE, anyone who comes above this cap can be included in the ban list. However, the stock is still available in the cash trade market.
The Ban List by F & O
Luckily, no other stock is banned today, besides Hindustan Copper. The list is updated every day by NSE on bans of stocks.
Know more about Hindustan Copper Shares here.
According to the NSE, the derivative contracts associated with the aforementioned securities have surpassed 95% of the market-wide position limit and are presently subject to a suspension period imposed by the stock exchange.
“It is hereby notified that all clients and members are only permitted to trade in derivative contracts of the aforementioned security in order to reduce their positions by offsetting positions. “Adequate penal and disciplinary action shall be taken in response to an increase in open positions,” stated the NSE.
Fresh positions are not permitted for any F&O contracts in the specific stock during the F&O moratorium period imposed by the stock exchanges.
Tuesday marked the end of a three-day winning streak for the stock markets, as the benchmark Sensex fell 110 points on profit-taking in select IT, private bank, and auto equities in response to sluggish trends in the US markets and outflows of foreign funds.
More stock market developments
As of its close at 73,903.91 points, the 30-share BSE Sensex fell 110.64 points, or 0.15 percent, with sixteen of its components concluding lower and fourteen settling higher. The index reached a low of 73,743.77 points, a decrease of 270.78 points or 0.36 percent, over the course of the day.
Although the broader NSE Nifty recovered at the tail end, it closed at 22,453.30, down 0.04 percent, or 8.70 points.
The BSE smallcap gauge increased 1.28 percent, while the midcap index increased 1.14 percent, on the broader market.
The sectoral indices exhibited the following declines: 0.71 percent for Teeck, 0.54 percent for IT, 0.38 percent for Telecommunications, and 0.19 percent for Banks.
Consumer durables increased by 1.82 percent, while services rose by 1.56%. Metal and utilities also rose by 1.21 and 1.21 percent, respectively, while commodities rose by 1.17 percent.
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