By Malvika Gurung
Investing.com -- One stock has been removed from the Futures and Options (F&O) ban list for trade by the National Stock Exchange on Sept 28, 2022, taking the total to two on the list.
While the beleaguered telecom stock Vodafone Idea (NS: VODA ) and the media company Zee Entertainment (NS: ZEE ) Enterprises continue to remain on the F&O ban list for Tuesday, the public sector lending stock Punjab National Bank (NS: PNBK ) has exited the list for today’s session.
The two 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.
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