BHEL, Escorts Added to F&O Ban List; PNB, SAIL, Zee Among 12 Stocks Today

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BHEL, Escorts Added to F&O Ban List; PNB, SAIL, Zee Among 12 Stocks Today
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on August 23, 2023, adding two new stocks to the list and removing an existing one, while retaining 10 stocks from the previous session.

The domestic bourse placed a total of 12 stocks under its F&O ban list on Wednesday. 

The agrochemicals major Chambal Fertilisers (NS: CHMB ) and Chemicals has exited the F&O ban list, while the state-owned engineering giant BHEL (NS: BHEL ) and the tractor manufacturer Escorts (NS: ESCO ) are the latest entrant on it.

The remaining 10 stocks held by the leading stock exchange from the previous trading session on Wednesday include the:

  • state-owned lender Punjab National Bank (NS: PNBK )
  • diagnostic labs chain Metropolis Healthcare (NS: METP )
  • NBFC Manappuram Finance (NS: MNFL )
  • PSU mining major Hindustan Copper (NS: HCPR )
  • India’s largest steel producers Steel Authority (NS: SAIL ) of India
  • fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC )
  • cement manufacturer India Cements (NS: ICMN )
  • media major Zee Entertainment (NS: ZEE )
  • gaming and hospitality major Delta Corp (NS: DELT )
  • third largest housing finance company Indiabulls Housing Finance (NS: INBF )

The 12 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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