Six Stocks Placed Under Trade Ban in NSE’s F&O Segment on October 11, 2023

Six Stocks Placed Under Trade Ban in NSE's F&O Segment on October 11, 2023

VoM News Desk | October 11, 2023 | 12:29 AM IST | Breaking News | Follow on Google News

Six Stocks Placed Under Trade Ban in NSE’s F&O Segment on October 11, 2023

Six Stocks Placed Under Trade Ban in NSE’s F&O Segment on October 11, 2023

In a development affecting the Indian stock market, the National Stock Exchange (NSE) has imposed trade bans on six stocks in the futures and options (F&O) segment for Wednesday, October 11, 2023. This action was taken as these securities exceeded 95 percent of the market-wide position limit (MWPL), according to the NSE. However, it’s worth noting that these stocks will still be available for trading in the cash market.

The six stocks that have been placed on the F&O ban list by the stock exchange for October 11 are Delta Corp, Indiabulls Housing Finance, Punjab National Bank, L&T Finance Holdings Ltd, Manappuram Finance Ltd, and MCX. It’s important to note that the NSE updates the list of securities under the F&O trade ban on a daily basis.

The NSE has clarified that the derivative contracts related to these mentioned securities have crossed the 95 percent MWPL threshold and are currently under the ban period as imposed by the stock exchange. The NSE further stated, “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. Any increase in open positions shall attract appropriate penal and disciplinary action.” This means that no fresh positions can be taken in any of the F&O contracts related to these stocks during the F&O ban period determined by the stock exchanges.

On a broader note, Indian stock indices experienced a significant rally on Tuesday, with a nearly 1 percent increase. This surge was attributed to gains in the financial, auto, and IT sectors. The 30-share BSE Sensex saw a notable increase of 566.97 points or 0.87 percent, closing at 66,079.36. The BSE Midcap index witnessed a jump of 1.4 percent, while the BSE SmallCap index rose by 1.14 percent. The National Stock Exchange’s broader Nifty also recorded an increase of 177.50 points or 0.91 percent, settling at 19,689.85. This positive momentum was driven by gains in stocks like Coal India, Adani Ports, and Bharti Airtel.

VoM News Desk

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