NBFC Major Exits F&O Ban List Today, 3 Stocks Retained

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NBFC Major Exits F&O Ban List Today, 3 Stocks Retained
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on August 4, 2023, removing one stock from the list and retaining three from the previous session.

India’s third largest housing finance company Indiabulls Housing Finance (NS: INBF ) has exited the domestic stock exchange’s F&O ban list in Friday’s trade, while the NSE has continued to hold three stocks from yesterday.

They include the PSU miner Hindustan Copper (NS: HCPR ), NBFC Piramal Enterprises (NS: PIRA ), and the fertilizer manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC ).

The three 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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