GNFC in F&O Ban for November 1, 2023

GNFC in F&O Ban for November 1, 2023

VoM News Desk | October 31, 2023 | 11:19 PM IST | Breaking News | Follow on Google News

GNFC in F&O Ban for November 1, 2023

GNFC in F&O Ban for November 1, 2023

The National Stock Exchange (NSE) has placed a ban on one stock for trading in the futures and options (F&O) segment on November 1, 2023. The reason for the ban is that the stock crossed 95% of the market-wide position limit (MWPL), as per NSE regulations. However, the stock will still be available for trading in the cash market.

GNFC: The Sole Stock Under Ban

GNFC is the sole stock that has been placed under the F&O ban by the stock exchange for November 1.

Ban Period and Trading Restrictions

The NSE updates the list of securities in F&O ban for trade daily. When a derivative contract exceeds 95% of the market-wide position limit, it is put under the ban period by the stock exchange. During this period, clients and members can only trade in the derivative contracts of the specified security to reduce their existing positions through offsetting positions. No new positions can be initiated for any of the F&O contracts related to the stock under the ban. Any increase in open positions will result in appropriate penalties and disciplinary actions.

Market Performance and Rupee

On Tuesday, Indian stocks saw a decline after two consecutive days of gains, primarily due to foreign fund outflows and rising tensions in the Middle East. The BSE Sensex decreased by 237.72 points (0.37%) to close at 63,874.93, with the Nifty dipping by 61.30 points (0.32%) to 19,079.60.

In the currency market, the rupee remained relatively stable and settled 2 paise higher at 83.24 against the US dollar on Tuesday.

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VoM News Desk

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