Adani Ports Enters F&O Ban List on Feb 3, NSE Holds 2 Adani Stocks

By Malvika Gurung

Investing.com -- The National Stock Exchange has added an Adani Group mega-stock stock to its Futures and Options (F&O) ban list for trade on Feb 3, 2023, while retaining another Adani Group stock from the previous session.

The country’s largest private port operator Adani Ports and Special Economic Zone (NS: APSE ) is the latest entrant on the F&O ban list, while the domestic bourse has continued to hold the cement manufacturing giant Ambuja Cements (NS: ABUJ ) on its list on Friday. 

In not even seven sessions, all the ten listed stocks of the ports-to-power conglomerate Adani Group have witnessed an overall wealth erosion of $108 billion in market valuation, following a 106-page report released by the US investment research firm Hindenburg last week, alleging the conglomerate to be engaged in a brazen stock manipulation and accounting fraud scheme.

The two aforementioned securities have 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.