PNB Added to F&O Ban List, NSE Holds 6 Stocks Including BHEL, HAL

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PNB Added to F&O Ban List, NSE Holds 6 Stocks Including BHEL, HAL
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange has rejigged its Futures and Options (F&O) ban list for June 22, 2023, putting six stocks under the list.

The domestic bourse added new stock and removed two from its F&O ban list on Thursday while retaining five stocks from the previous session.

The public sector lender Punjab National Bank (NS: PNBK ) is the latest entrant on the F&O ban list, while Indiabulls Housing Finance (NS: INBF ) and India Cements (NS: ICMN ) exited the list on Thursday.

The stocks held by NSE from the previous session include the:

  • state-owned giant BHEL (NS: BHEL ),
  • PSU miner Hindustan Copper (NS: HCPR ),
  • state-owned aerospace and defence major Hindustan Aeronautics (NS: HIAE ),
  • gaming and hospitality major Delta Corp (NS: DELT ), and
  • NBFC L&T Finance Holdings (NS: LTFH ).

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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