Seven Stocks Put Under F&O Ban by NSE, But Available for Cash Trading

Seven Stocks Put Under F&O Ban by NSE, But Available for Cash Trading

VoM News Desk | October 11, 2023 | 10:04 PM IST | Breaking News | Follow on Google News

Seven Stocks Put Under F&O Ban by NSE, But Available for Cash Trading

Seven Stocks Put Under F&O Ban by NSE, But Available for Cash Trading

The National Stock Exchange (NSE) has imposed a ban on seven stocks in the futures and options (F&O) segment for Thursday, October 12, 2023, due to crossing 95% of the market-wide position limit (MWPL). However, it’s important to note that these stocks will still be available for trading in the cash market.

Stocks in the F&O Ban List

The seven stocks on the F&O ban list are Balrampur Chini Mills Ltd, Hindustan Copper Ltd, India Cements Ltd, Indiabulls Housing Finance, Punjab National Bank, L&T Finance Holdings Ltd, and Manappuram Finance Ltd.

Trading Restrictions and F&O Ban Period

In this situation, clients and members are allowed to trade in the derivative contracts of these securities only to decrease their existing positions through offsetting positions. The stock exchanges prohibit fresh positions in any of the F&O contracts for these stocks during the F&O ban period. Any increase in open positions will result in appropriate penal and disciplinary actions.

Stock Market Performance

Indian stocks closed higher on the previous day, driven by buying in energy, FMCG (fast-moving consumer goods), and capital goods shares. The BSE 30-share Sensex surged by 393.69 points, closing at 66,473.05, with 24 of its constituents ending in the green. The broader Nifty of the NSE also advanced 121.50 points to close at 19,811.35, with 37 index shares gaining, 12 declining, and one remaining unchanged.

Indian Rupee’s Performance

The Indian rupee closed stronger on the same day, tracking the upward trend of Asian currencies. It ended at 83.1875 against the US dollar, compared to the previous session’s close at 83.2450. These market movements reflect ongoing dynamics in India’s financial and stock markets.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.