By Malvika Gurung
Investing.com -- One new stock has been added under the Futures and Options (F&O) ban list for trade by the NSE on March 24, 2022, bringing the total count to six for the day.
The state-owned steel producer Steel Authority of India Ltd (NS: SAIL ) is the newest addition to the ban list, while Indiabulls (NS: INBF ) Housing Finance, Delta Corp (NS: DELT ) and Balrampur Chini Mills (NS: BACH ), Sun TV and GNFC continue to remain under the F&O ban list on Thursday.
The exchange updates the F&O ban list every day.
The six securities mentioned above are banned for trade under the futures and options segment today because they have exceeded 95% of the market-wide position limit and shall continue remaining in the ban list until their position falls 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.
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