PNB, Balrampur Chini Added to F&O Ban List, Polycab Exits: 7 Stocks on July 21

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PNB, Balrampur Chini Added to F&O Ban List, Polycab Exits: 7 Stocks on July 21
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange has rejigged its Futures and Options (F&O) ban list on July 21, 2023, adding two stocks removing one from the list and, while retaining five stocks from the previous session.

The domestic bourse placed seven stocks under its F&O ban list on Friday. 

The newest entrants include the public sector lender Punjab National Bank (NS: PNBK ) and the leading sugar manufacturer Balrampur Chini Mills (NS: BACH ), while the cables and wires manufacturer Polycab India (NS: POLC ) exited the ban list on Friday.

The remaining five stocks from the previous session include the:

  • gaming and hospitality major Delta Corp (NS: DELT )
  • home finance major Indiabulls Housing Finance (NS: INBF )
  • NBFC L&T Finance Holdings (NS: LTFH )
  • Kerala-based NBFC Manappuram Finance (NS: MNFL )
  • private sector lender RBL Bank (NS: RATB ).

The seven 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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