LIC Housing, PNB Among 7 Stocks Under F&O Ban List on May 18

  • Stock Market News
LIC Housing, PNB Among 7 Stocks Under F&O Ban List on May 18
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange added two more stocks to its Futures and Options (F&O) ban list on May 18, 2023, extending its recent trend of rejigging the list, while retaining five stocks from the previous session.

LIC Housing Finance (NS: LICH ) and Aditya Birla Fashion (NS: ADIA ) and Retail are the latest entrants on the domestic bourse’s F&O ban list, while the five stocks that continue to remain under the ban list on Thursday from yesterday’s session include the:

  • Leading sugar manufacturer Balrampur Chini Mills (NS: BACH ),
  • NBFC Manappuram Finance (NS: MNFL ),
  • state-owned lender Punjab National Bank (NS: PNBK ),
  • gaming and hospitality company Delta Corp (NS: DELT ), and
  • fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC )

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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