PSU Banking Major Exits F&O Ban List by NSE on Nov 25

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PSU Banking Major Exits F&O Ban List by NSE on Nov 25
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The domestic bourse National Stock Exchange has omitted the public sector lender Punjab National Bank (NS: PNBK ) from the Futures and Options (F&O) ban list for trade on Nov 25, 2022, taking the total count on the list to nil.

The leading stock exchange had added the state-owned lender to its F&O ban list in the previous session as the security had exceeded 95% of the market-wide position limit (MWPL).

However, as PNB no longer exceeds 95% of the market-wide position limit, it has been removed from the ban list for trade under the futures and options segment on Friday, with its positions falling below 80%.

The stock exchange updates the list of securities in the F&O ban for trade every day.

 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.

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