NSE Adds This PSU Banking Giant to F&O Ban List on Nov 24

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NSE Adds This PSU Banking Giant to F&O Ban List on Nov 24
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic bourse National Stock Exchange has added a new stock to the Futures and Options (F&O) ban list for trade on Nov 24, 2022, after removing all five stocks from the list on Wednesday.

The latest and only entrant to the F&O ban list on Thursday is the public sector lender Punjab National Bank (NS: PNBK ), as the security has 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 its 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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