Indian frontline indices S&P BSE Sensex and Nifty50 closed flat on Tuesday, with the Sensex gaining 4 points or 0.01% to end at 65,220.03 and the Nifty50 settling at 19,396.45, down by 3 points or 0.01%. While there were gains in auto and FMCG stocks, the overall sentiment was weighed down by weakness in banks and IT stocks.
Additionally, twelve stocks have been placed under the futures and options (F&O) ban for trade on Wednesday, as their open interest exceeds 95% of the market-wide position limits. These stocks include Chambal Fertilizers & Chemicals, Delta Corp, Granules India, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram Finance, Punjab National Bank, Steel Authority of India, and Zee Entertainment Enterprises.
The F&O contracts of these stocks will be banned for trading unless the open interest falls below 80%. It is important to note that traders who trade in indices are not affected by the ban.
Overall, the stock market remained subdued as the gains in auto and FMCG stocks were overshadowed by the weakness in banks and IT stocks. Investors will be closely monitoring the market for any positive developments and trends in the coming days.
