GNFC Added to F&O Ban List on Aug 16, Total Count Jumps to 9

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GNFC Added to F&O Ban List on Aug 16, Total Count Jumps to 9
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on August 16, 2023, replacing one stock on the list and retaining eight from the previous session.

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

The fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC ) has been added to NSE’s ban list, replacing the state-owned miner Hindustan Copper (NS: HCPR ).

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

  • pharmaceutical stock Granules India (NS: GRAN )

  • cement manufacturer India Cements (NS: ICMN )

  • Kerala-based NBFC Manappuram Finance (NS: MNFL )

  • media major Zee Entertainment (NS: ZEE )

  • gaming and hospitality major Delta Corp (NS: DELT )

  • agrochemicals major Chambal Fertilisers (NS: CHMB ) and Chemicals 

  • leading sugar manufacturer Balrampur Chini Mills (NS: BACH ),

  • third largest housing finance company Indiabulls Housing Finance (NS: INBF )

The nine 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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