By Malvika Gurung
Investing.com -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on September 14, 2023, adding a new stock to the list and removing two, while retaining the remaining stocks from the previous session.
The domestic bourse placed a total of nine stocks under its F&O ban list on Thursday.
The Maharatna public sector undertaking (PSU) REC (NS:RECM) is the latest entrant on the F&O ban list, while the state-owned engineering giant BHEL (NS:BHEL) and agrochemicals manufacturer Chambal Fertilisers (NS:CHMB) have exited the ban list on Sept 14.
The leading stock exchange continues to hold eight stocks from its previous session on Thursday. They include the:
- state-owned steel producer SAIL (NS:SAIL)
- Navratna PSU NALCO (NS:NALU)
- Kerala-based NBFC Manappuram Finance (NS:MNFL)
- power trading exchange IEX (NS:IIAN)
- casino operator Delta Corp (NS:DELT)
- PSU mining major Hindustan Copper (NS:HCPR)
- cement manufacturer India Cements (NS:ICMN)
- housing finance stock 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.