PSU Bank Enters F&O Ban List, 2 Stocks Exit: Total Count at 10

  • Stock Market News
PSU Bank Enters F&O Ban List, 2 Stocks Exit: Total Count at 10
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange (NSE) has rejigged its Futures and Options (F&O) ban list on August 18, 2023, adding one stock to the list and removing two from the previous session, while retaining the remaining nine stocks.

The domestic bourse placed a total of 10 stocks under its F&O ban list on Friday.

The state-owned lender Punjab National Bank (NS: PNBK ) (PNB) is the latest addition to the F&O ban list, while the Kerala-based NBFC Manappuram Finance (NS: MNFL ) and sugar manufacturer Balrampur Chini Mills (NS: BACH ) exited the NSE’s list on Friday.

The remaining nine stocks held by the leading stock exchange from the previous trading session include the:

  • PSU mining major Hindustan Copper (NS: HCPR )
  • India’s largest steel producers Steel Authority (NS: SAIL ) of India
  • pharmaceutical stock Granules India (NS: GRAN )
  • fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC )
  • cement manufacturer India Cements (NS: ICMN )
  • media major Zee Entertainment (NS: ZEE )
  • gaming and hospitality major Delta Corp (NS: DELT )
  • agrochemicals major Chambal Fertilisers (NS: CHMB ) and Chemicals 
  • third largest housing finance company Indiabulls Housing Finance (NS: INBF )

The 10 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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