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 indexes do not encounter a situation of security ban.
The MWPL for Hindustan Copper stood at 95.7% on Wednesday with OI reported by Trendlyne at 8.2 million. It was down by 39.1% from the previous session.
Shares of Hindustan Copper had ended at Rs 286.60 on the NSE on Wednesday, up by Rs 4.05, or 1.43% from the previous closing price. The multibagger stock has delivered outstanding results of 202% over the past 12 months and has significantly outperformed Nifty during this period. The latter’s returns stand at 30%.
For Zee, MWPL stood at 18.6% on Wednesday with OI reported by Trendlyne at 110.5 million. It was unchanged from the previous session.Zee shares ended at Rs 140.90 on the NSE on Wednesday and were done by Rs 1.65 or 1.18% over the Tuesday closing price. Zee shares have fallen over 30% in the past 12 months and this year the decline has been more pronounced on the back of the company’s merger with Sony falling off. In 2024, so far the share has tanked by over 50%.Indian benchmark indices ended Wednesday on a high catapulted by top two heavyweights – Reliance Industries (RIL) and HDFC Bank. While The S&P BSE Sensex settled at 72,996.31, higher by 526.01 points or 0.73%, the broader Nifty closed at 22,123.65, down by 118.95 points or 0.54%.
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