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The above action has been taken by the market regulator in view of the writ petitions filed by Chennai Financial Markets and Accountability (CFMA) on Commodity Derivatives Platform (CDP). "It may be noted that writ petitions filed by CFMA on CDP are pending before the Hon’ble Madras High Court for disposal," MCX said in an exchange filing said.

Meanwhile, data showed the U.S. economy maintained a fairly solid pace of growth in the second quarter and activity appears to have accelerated this quarter, but a looming government shutdown and an ongoing strike by auto workers are dimming the outlook for the rest of 2023.

Proceeds from initial public offerings and secondary share and convertible bond issues soared 343% to $23.7 billion in the first nine months of the year, LSEG data showed. The number of deals climbed by a third.

Federal Reserve Bank of Richmond President Thomas Barkin said on Thursday Fed rate rises have slowed the housing sector.

Stocks that were in focus included names like ICICI Bank, which fell 0.037%, Adani Power, which declined 0.37%, and RIL, whose shares dropped 1.26% on Thursday.

Ashish Chaturmohta, Fund Manager at JM Financial Services, predicts that the Nifty50 will reach 20,570 in the near term and 21,100 in the medium term. He emphasizes that India is currently the best performing emerging market and that valuations will continue to be expensive. Chaturmohta also highlights the potential of small and midcap stocks, cautioning investors to be selective in their investments.

The recent correction in the Indian stock market is relatively mild compared to other major markets. While global factors such as crude oil price spikes can contribute to corrections, India has outperformed many other markets. However, there are concerns in sectors like paints, where increased competition and higher raw material costs could impact profitability. "

Foreign portfolio investors were net sellers at Rs 3,364 crore on Thursday. DIIs bought shares worth Rs 2,711 crore.