Stocks Placed Under Ban for Trade by NSE on September 26, 2023

Stocks Placed Under Ban for Trade by NSE on September 26, 2023
Stocks Placed Under Ban for Trade by NSE on September 26, 2023
Stocks Placed Under Ban for Trade by NSE on September 26, 2023
Stocks Placed Under Ban for Trade by NSE on September 26, 2023

Stocks Placed Under Ban for Trade by NSE on September 26, 2023

Stocks Placed Under Ban for Trade by NSE on September 26, 2023

In a recent development, the National Stock Exchange (NSE) has imposed a trading ban on five specific stocks under the futures and options (F&O) segment for Tuesday, September 26, 2023. This decision stems from these securities crossing 95 percent of the market-wide position limit (MWPL), according to official statements from the NSE. It’s important to note that while these stocks are restricted from trading in the F&O segment, they will still be available for trading in the cash market.

The Stocks in Question

The five stocks that have found themselves on the F&O ban list are Balrampur Chini Mills Ltd, Canara Bank Ltd, Granules India, Hindustan Copper Ltd, and Indiabulls Housing Finance Ltd. These companies will be closely watched by investors and traders on Tuesday due to their limited availability in the F&O segment.

Continuous Monitoring and Updates

The NSE maintains a dynamic list of securities placed under the F&O ban, and this list is updated daily. Stocks are placed on this list when the derivative contracts for these securities cross the 95 percent threshold of the MWPL. The NSE has issued a stern warning, stating that all clients and members should engage in derivative contracts for these banned securities only to decrease their existing positions through offsetting actions. Any attempts to increase open positions will result in appropriate penal and disciplinary action.

Restrictions During the Ban Period

It’s worth emphasizing that, during the F&O ban period, no fresh positions will be permitted for any of the derivative contracts associated with the banned stocks. This restriction aims to maintain market stability and prevent excessive speculation during times of heightened volatility or risk.

Market Overview

On the preceding day, Indian stock markets exhibited modest gains, but global uncertainties weighed on investor sentiment. While financials, consumer durables, realty, and banking shares saw gains, the IT, oil & gas, and pharma sectors experienced losses.

The BSE Sensex, which witnessed a surge of 461.6 points during the trading session, ultimately closed with a modest gain of 14.54 points, or 0.02%, at 66,023.69. Throughout the day, it reached a high of 66,225.63 and a low of 65,764.03. On the other hand, the broader NSE Nifty settled marginally higher, up by 0.30 points, at 19,674.55.

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