Manappuram Finance on F&O ban list for March 6; GIFT NIFTY hints positive start

The National Stock Exchange (NSE) on Thursday, March 6, banned trading in one stock in the futures and options (F&O) segment as this security crossed 95% of the market-wide position limit (MWPL).

The stock on the F&O ban list is Manappuram Finance Limited.

"The derivative contracts in the below mentioned security has crossed 95% of the market-wide position limit and are currently in the ban period," the NSE said, adding, "It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action."

No new positions can be placed when the bourses place F&O contracts in a specific stock in the ban period. The F&O ban list is updated daily.

The ban will be revoked once the position shrinks below 80%. However, the stock is available for trading in the cash market.

Meanwhile, NIFTY50 and SENSEX are likely to open in the positive territory as suggested by GIFT NIFTY, which is trading 0.22% higher.

On Wednesday, SENSEX rose 740 points while NIFTY50 snapped its 10-day losing streak due to value buying in utilities and power shares.

The SENSEX surged 1.01% to settle at 73,730.23, while NIFTY rebounded 1.15% to 22,337.30.

From the NIFTY50 space, Adani Ports, Tata Steel, Adani Enterprises, Power Grid and Mahindra & Mahindra were top gainers.

Bajaj Finance, IndusInd Bank, HDFC Bank, and Shriram Finance were the laggards.

Besides global cues, local factors like an increase in the February PMI index also boosted market sentiments. India's services sector activity witnessed a sharp uptick in February, which was boosted by improving domestic and international demand.

"India's services business activity index rose to 59.0 in February 2025, up considerably from January's 26-month low of 56.5. Global demand, which grew at its fastest pace in six months according to the new export business index, played a major role in driving output growth for India's services sector," said Pranjul Bhandari, Chief India Economist at HSBC.