Polycab, L&T Finance Added to F&O Ban List, Total Count Jumps to 6

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Polycab, L&T Finance Added to F&O Ban List, Total Count Jumps to 6
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The National Stock Exchange has added two stocks under its Futures and Options (F&O) ban list on Thursday, July 20, 2023, while retaining all four stocks from the previous session.

The domestic bourse placed six stocks under its F&O ban list on Thursday. The two new entrants include the NBFC L&T Finance Holdings (NS: LTFH ) and the leading cables and wires manufacturer Polycab India (NS: POLC ). 

The remaining four stocks from the previous session include the:

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

These six 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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