NSE Adds 2 PSU Banks Under F&O Ban List, Total Count Rises to 6

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NSE Adds 2 PSU Banks Under F&O Ban List, Total Count Rises to 6
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has added two stocks to its Futures and Options (F&O) ban list for trade on May 15, 2023, while retaining four stocks from the previous session.

The public sector lender Punjab National Bank (NS: PNBK ), and the gaming and hospitality company Delta Corp (NS: DELT ) are the latest additions to the domestic bourse’s F&O ban list on Monday, while four other stocks continue to remain under the list, including the:

  • State-owned lender Canara Bank (NS: CNBK ),
  • Kerala-based NBFC Manappuram Finance (NS: MNFL ), 
  • engineering central PSE BHEL (NS: BHEL ), 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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