NSE Adds 2 PSUs to F&O Ban List, Count Jumps to 11 on Aug 17

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NSE Adds 2 PSUs to F&O Ban List, Count Jumps to 11 on Aug 17
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on August 17, 2023, adding two stocks to the list and retaining nine from the previous session.

The domestic bourse placed a total of 11 stocks under its F&O ban list on Thursday.

Two central public sector undertakings (PSUs) have been added to NSE’s ban list in today’s session, them being the mining major Hindustan Copper (NS: HCPR ), and one of India’s largest steel producers Steel Authority of India Limited (NS: SAIL ).

The remaining nine stocks held by the leading stock exchange from the previous trading session on Thursday include the:

  • pharmaceutical stock Granules India (NS: GRAN )
  • fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC )
  • cement manufacturer India Cements (NS: ICMN )
  • Kerala-based NBFC Manappuram Finance (NS: MNFL )
  • media major Zee Entertainment (NS: ZEE )
  • gaming and hospitality major Delta Corp (NS: DELT )
  • agrochemicals major Chambal Fertilisers (NS: CHMB ) and Chemicals 
  • leading sugar manufacturer Balrampur Chini Mills (NS: BACH ),
  • third largest housing finance company Indiabulls Housing Finance (NS: INBF )

The 11 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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