NSE Holds 2 Stocks Under F&O Ban List on March 16

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NSE Holds 2 Stocks Under F&O Ban List on March 16
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has retained two stocks from the previous session under its Futures and Options (F&O) ban list for trade on March 16, 2023.

Mortgage lender Indiabulls (NS: INBF ) Housing Finance and fertilizers and chemicals manufacturer GNFC (NS: GNFC ) continue to remain under the domestic bourse’s F&O ban list in Thursday's session. 

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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