1 Stock Exits F&O Ban List, NSE Retains GNFC on March 14

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1 Stock Exits F&O Ban List, NSE Retains GNFC on March 14
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has removed one stock from its Futures and Options (F&O) ban list for trade on March 14, 2023, while retaining another one from the previous sessions.

The leading sugar manufacturer Balrampur Chini Mills (NS: BACH ) has exited the F&O ban list on Tuesday, while the domestic bourse continues to hold the fertilizers and chemicals manufacturer GNFC (NS: GNFC ) under its ban list for today’s session. 

The aforementioned security has exceeded 95% of the market-wide position limit (MWPL), thereby banned for trade under the futures and options segment in the day, and shall continue remaining on the list until their positions fall below 80%.

While on the Futures and Options ban list, no new/fresh F&O positions can be bought or sold for the stock(s), else that trader gets penalised. Traders with existing positions in that security can unwind their positions.

Moreover, the market-wide position limit is set by the stock exchanges.

The NSE directs all clients/members to trade in the derivative contracts of the aforementioned securities only to decrease their positions through offsetting positions.

The leading stock exchange updates the list of securities in the F&O ban for trade every day.

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