NSE Adds 2 NBFC Stocks Under F&O Ban List on June 28

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NSE Adds 2 NBFC Stocks Under F&O Ban List on June 28
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has rejigged its Futures and Options (F&O) ban list for trade on June 28, 2023, putting only two stocks under the list.

The domestic bourse added two financial stocks under its F&O ban list on Wednesday, including the NBFC L&T Finance Holdings (NS: LTFH ), and the Kerala-based NBFC Manappuram Finance (NS: MNFL ).

NSE has removed all other stocks from the previous session, including the PSU miner Hindustan Copper (NS: HCPR ) and the private sector lender RBL Bank (NS: RATB ).

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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