NSE Adds This Chemical Stock to its F&O Ban List for Monday: Full List

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NSE Adds This Chemical Stock to its F&O Ban List for Monday: Full List
Credit: © Reuters.

By Malvika Gurung

Investing.com -- One new stock has been added under the Futures and Options (F&O) ban list for trade by the National Stock Exchange on Monday. It is the fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC ) or GNFC.

The chemical scrip has been declining for the past three sessions, and has plunged over 31% in almost 6 weeks now. It fell over 9% in its previous session.

There are two other stocks already under the F&O ban list, and continue to do so for Monday as well. They include the public sector lender Punjab National Bank (NS: PNBK ) and the housing finance company Indiabulls Housing Finance (NS: INBF ).

All the three stocks have exceeded 95% of the market-wide position limit (MWPL), thereby placing them under the F&O ban list by NSE. The stock exchange updates the list every day.

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.

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