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A list of six stocks/securities have been put under the futures and options (F&O) ban by the National Stock Exchange (NSE) for today (September 16, 2021). The six stocks under F&O ban list on NSE are Escorts, Sun TV, National Aluminium Company (Nalco), SAIL, Zee Entertainment and Exide Industries. 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.
"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.
Indian Railway Catering and Tourism Corporation (IRCTC) is out the the list. Shares of Zee Entertainment Enterprises Limited have been in focus in recent trading sessions after Rakesh Jhunjhunwala's Rare Enterprises and BofA Securities Europe SA bought its shares through open market transactions.
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.
