L&T Subsidiary Exits F&O Ban List, NSE Retains 2 Finance Stocks

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L&T Subsidiary Exits F&O Ban List, NSE Retains 2 Finance Stocks
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange removed one stock from its Futures and Options (F&O) ban list on May 24, 2023, while retaining two stocks from the previous session.

The NBFC L&T Finance Holdings (NS: LTFH ) has exited the domestic bourse’s F&O ban list on Wednesday, while the leading home finance company Indiabulls Housing Finance (NS: INBF ) and the Kerala-based NBFC Manappuram Finance (NS: MNFL ) continued to remain under the ban list in today’s session.

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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