In a significant regulatory move, SEBI has barred Axis Capital from merchant banking activities in the debt segment. This decision marks an important shift in how Axis Capital will operate within the financial services industry. Further details about this development are awaited.
F&O Ban Updates
New Additions to F&O Ban:
- Chambal Fertilizers (CHAMBLFERT)
- National Aluminium Company (NATIONALUM)
- Steel Authority of India (SAIL)
Still in F&O Ban:
- Aarti Industries (AARTIIND)
- RBL Bank (RBLBANK)
- Granules India (GRANULES)
- Birlasoft (BSOFT)
- Gujarat Narmada Valley Fertilizers & Chemicals (GNFC)
- LIC Housing Finance (LICHSGFIN)
- Biocon (BIOCON)
- Punjab National Bank (PNB)
- Oracle Financial Services Software (OFSS)
Out of F&O Ban:
- Balrampur Chini Mills (BALRAMCHIN)
What is an F&O Ban?
An F&O (Futures and Options) ban occurs when the open interest (OI) for a stock exceeds 95% of the market-wide position limit (MWPL). During this period, no new positions can be created in F&O contracts, although existing positions can be squared off. This measure aims to prevent excessive speculation and market volatility. The ban is lifted only when the OI falls below 80%.
Market Overview
Indian equity markets ended on a positive note on September 19, 2024, led by gains in the banking, FMCG, and realty sectors. The Sensex closed 236.57 points higher at 83,184.80, while the Nifty gained 38.25 points to settle at 25,415.80.
