NSE Retains Mega-Cap Adani Stock in F&O Ban List, Removes Ambuja Cements

By Malvika Gurung

Investing.com -- The National Stock Exchange has removed one Adani Group stock from its Futures and Options (F&O) ban list for trade on Feb 6, 2023, while retaining the other Adani stock from the previous session.

The leading cement manufacturer Ambuja Cements (NS: ABUJ ) has exited the F&O ban list, while the domestic bourse has continued to hold the country’s largest private port operator Adani Ports and Special Economic Zone (NS: APSE ) to its list on Monday’s session.

After slashing a majority of its valuation, the mega-cap stock jumped 8% on Friday and closed the session with gains.

However, Adani Enterprises (NS: ADEL ), Adani Ports and Ambuja Cements have been put under the Short-Term Additional Surveillance Measure (ST-ASM) Stage I framework by the NSE to keep a check on short-selling.

Read Also: NSE Adds 3 Adani Stocks Under ASM Framework on Feb 3: What Does it Mean?

The aforementioned 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 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.