NSE Adds PNB Back to F&O Ban List on Nov 21: Total Count Zooms to 7

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NSE Adds PNB Back to F&O Ban List on Nov 21: Total Count Zooms to 7
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The leading stock exchange National Stock Exchange (NSE) has added the state-owned lender stock Punjab National Bank (NS: PNBK ) back to its Futures and Options (F&O) ban list for trade on Nov 21 after omitting it on Thursday, taking the total count on the list to seven.

Besides freshly adding the public sector lender, NSE continues to retain six stocks under the F&O ban list on Monday. They include the:

  • leading sugar manufacturer Balrampur Chini Mills (NS: BACH ),
  • home finance company Indiabulls (NS: INBF ) Housing Finance,
  • gaming and hospitality stock Delta Corp (NS: DELT ),
  • leading fertilizers manufacturer Gujarat Narmada Valley Fertilizers and Chemicals (NS: GNFC ),
  • state-owned central PSU Bharat Heavy Electricals Ltd. (NS: BHEL ), and 
  • mass media company Sun TV Network (NS: SUTV ).

The seven 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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