BHEL Among 3 Stocks Placed Under F&O Ban List by NSE

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BHEL Among 3 Stocks Placed Under F&O Ban List by NSE
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange has added three stocks to its Futures and Options (F&O) ban list for trade on May 9, 2023.

The Kerala-based NBFC Manappuram Finance (NS: MNFL ), the engineering central PSE Bharat Heavy Electricals Ltd (NS: BHEL ), and the fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC ) are the stocks that are placed under the domestic bourse’s F&O ban list on Tuesday.

The 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.

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