PSU Bank, NBFC Exit F&O Ban List, NSE Holds 4 Stocks

  • Stock Market News
PSU Bank, NBFC Exit F&O Ban List, NSE Holds 4 Stocks
Credit: © Reuters.

By Malvika Gurung -- The National Stock Exchange has removed two stocks from its Futures and Options (F&O) ban list for trade on May 16, 2023, while retaining four stocks from the previous session.

The public sector lender Canara Bank (NS: CNBK ) and the Kerala-based NBFC Manappuram Finance (NS: MNFL ) exited the domestic bourse’s F&O ban list on Tuesday, while four other stocks continue to remain under the list. They include the:

  • State-owned lender Punjab National Bank (NS: PNBK ),
  • gaming and hospitality company Delta Corp (NS: DELT ),
  • engineering central PSE BHEL, and 
  • fertilizers manufacturer Gujarat Narmada Valley Fertilizers & Chemicals (NS: GNFC )

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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