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​It is not about edtech I think you are going to see this across and the fact that everyone was pushing to become unicorn or decacorn or whatever, in a market where it is very hard to generate revenue.

On June 28, 2023, L&T Finance Holdings (L&TFH) and Manappuram Finance stocks were placed under the F&O ban. However, they were still available for trading in the cash market. The ban is imposed when the open interest on a stock exceeds 95% of the market-wide position limits, and is lifted when the open interest falls below 80%. These bans do not affect traders who trade in indices. The stocks were banned due to their high open interest, with L&TFH experiencing a significant increase from the previous session.

​As of now there is activity in Sensex. So yesterday I think liquidity and activity will start in Bankex that is the BSE Banking Index Future and Option segment.

From the Sensex pack, Tata Motors, SBI, Bajaj Finance, Bajaj Finserv, Infosys, Titan, and ITC opened with gains, while Power Grid, Kotak Mahindra Bank, Axis Bank, Tech Mahindra, NPTC and HCL Tech opened in the red.

The stocks of HDFC and HDFC Bank, which previously underperformed due to uncertainties regarding their merger, are now gaining attention as management expresses their desire for the deal to be effective from July 1. Technical analysts have set targets of Rs 2,000 for HDFC Bank and Rs 3,000 for HDFC. The merger is expected to be finalized on June 30, with the record date to be announced later. Following the announcement, both stocks experienced an increase of around 1.5%.

The Indian market is expected to trade higher following positive global cues. The Sensex rose more than 400 points while the Nifty50 closed above 18,800 levels. India VIX was down by 5.46%. Options data suggests a trading range between 18,700 to 18,950 zones. Nifty formed a bullish candle on the daily frame and has to hold above 18,777 zones to witness an up move towards 18,888 then 19,000 zones. Bank Nifty index formed a strong bullish candle as buying interest was seen across the banking space.

Gold and silver prices traded differently in early trade on Wednesday. While gold prices traded in the green, silver futures declined. The Dollar Index remained flat, providing some support to gold prices. However, the outlook for gold remains weak, with key support levels at around $1,900 and $1,870. Gold futures have declined in June but are up on a year-to-date basis. Silver futures have declined in June but have a marginal gain on a year-to-date basis. The physical price of gold in India stood at Rs 59,500 per 10 grams.

​But I think that the reason to SEBI move that institutions cannot hold more than 10%. And this combined entity, of course, will have a much larger weight will take some more time for markets to adjust the overall holding.

Asian shares experienced hesitation due to conflicting factors such as positive U.S. economic news and global growth concerns. The yen hit a 15-year low against the euro and Japan hinted at intervention to prevent further losses. The strength of the U.S. data and hawkish commentary from the European Central Bank undermined bonds, narrowing the odds on further rate hikes. Meanwhile, a panel of central bankers including Federal Reserve Chair Jerome Powell, ECB head Christine Lagarde, and Bank of Japan Governor Kazuo Ueda gathered in Portugal. Overall, caution persisted in markets, with little change in Asia-Pacific shares and a dip in Chinese blue chips. Nasdaq and S&P 500 futures also experienced declines. Bond yields in Europe rose, with markets anticipating a rate hike by the central banks. The euro and dollar both strengthened against the yen. Meanwhile, gold steadied, and oil prices rose slightly.

The current account deficit was lower than the March’22 quarter’s 1.6 percent of GDP ($ 13.4 billion) and also sequentially lower than 2 percent of GDP ($16.8 billion) in the December’22 quarter, according to the preliminary data released by the Reserve Bank of India.