F&O Ban List Rejig: NSE Adds 3 Finance Stocks

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F&O Ban List Rejig: NSE Adds 3 Finance Stocks
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has rejigged its Futures and Options (F&O) ban list on May 23, 2023, adding a new stock under it, while removing four from the previous session.

The domestic bourse added the leading home finance company Indiabulls Housing Finance (NS: INBF ) under the F&O ban list on Tuesday, while retaining two stocks from the previous session. They include two NBFCs - Manappuram Finance (NS: MNFL ) and L&T Finance Holdings (NS: LTFH ).

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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