PNB, Canara Bank, Indiabulls Housing among 5 stocks under F&O ban on NSE today
The stocks are banned under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE
Five stocks/securities have been put in the futures and options (F&O) ban for trade on Thursday, October 7, 2021 by the National Stock Exchange (NSE) as these securities have crossed 95% of the market-wide position limit (MWPL).
National Aluminium Company Limited (Nalco) continues to be under the ban on the F&O segment, whereas public lenders Canara Bank and Punjab National Bank (PNB), home finance firm Indiabulls Housing Finance, PSU metal stock Steel Authority of India (SAIL) are the four stocks that have been added in F&O ban list by the stock exchange today.
The derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and are therefore have been currently put in the ban period by the stock exchange, said NSE.
Indiabulls Housing, one of India’s leading housing finance companies (HFC), is part of Indiabulls Group and offers home loans in the affordable housing segment. Whereas, Nalco is a Navratna CPSE under the Ministry of Mines. The company has integrated and diversified operations in mining, metal and power.
One of the largest steel-making companies in India, SAIL produces iron and steel at five integrated plants and three special steel plants. It also manufactures and sells a broad range of steel products.
“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions," the stock exchange said. "Any increase in open positions shall attract appropriate penal and disciplinary action," NSE added.
No fresh positions are allowed for any of the F&O contracts in that particular stock when it is under the F&O ban period. The MWPL (market-wide position limit) is set by the stock exchanges, which is the maximum number of contracts that can be open at any time (Open Interest), therefore, the F&O contracts of that stock enter a ban period if the open interest crosses 95% of the MWPL.
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