Hindustan Copper and Manappuram Finance Under F&O Ban on NSE

Hindustan Copper and Manappuram Finance Under F&O Ban on NSE

VoM News Desk | November 30, 2023 | 11:11 AM IST | Breaking News | Follow on Google News

Hindustan Copper and Manappuram Finance Under F&O Ban on NSE

Hindustan Copper and Manappuram Finance Under F&O Ban on NSE

The National Stock Exchange (NSE) has placed Hindustan Copper and Manappuram Finance under the futures and options (F&O) trading ban for Thursday, November 30, 2023. These stocks have crossed the 95% threshold of the market-wide position limit (MWPL), triggering the ban. While these securities are banned in the F&O segment, they remain available for trading in the cash market.

NSE’s Daily Update on F&O Ban List

The NSE regularly updates its list of securities under the F&O ban. When derivative contracts in a security exceed 95% of the MWPL, they enter a ban period. During this time, traders are only allowed to trade these contracts to decrease their positions by offsetting positions. The exchange has cautioned that any increase in open positions could lead to penalties and disciplinary actions. No new positions are permitted in the F&O contracts of the stocks under ban.

Market Performance Amid F&O Bans

Despite the F&O ban on certain stocks, the overall market performance was robust. The Sensex rallied by 727 points, and the Nifty closed above the 20,000 mark on Wednesday. This bullish trend was driven by buying in heavyweight stocks like HDFC Bank, Axis Bank, ICICI, and TCS, amid expectations of increased foreign fund inflows. The Sensex and Nifty both showed significant gains, with the broader market indices like the BSE midcap and smallcap also recording climbs. Bankex, auto, IT, and financial services were among the top gainers, while consumer durables and realty lagged slightly behind.

The implementation of the F&O ban on specific stocks by NSE serves as a regulatory measure to ensure market stability, even as the broader market shows signs of robust performance.

VoM News Desk

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