April 12: NSE Bans 8 Stocks in F&O Segment

12 Apr 2024 , 10:54 AM

On Friday, April 12, 2024, the National Stock Exchange (NSE) banned trading of 8 stocks under the futures and options (F&O) segment due to exceeding 95% of the market-wide position limit (MWPL).

The banned stocks include Balrampur Chini Mills, Exide Industries, Hindustan Copper, Idea, India Cements, National Aluminium Company, SAIL, and ZEEL. Despite the ban in the F&O segment, these stocks remain available for trading in the cash market.

The NSE updates its list of banned securities in the F&O segment daily, with the ban enforced on stocks whose derivative contracts surpass 95% of MWPL.

Traders are only permitted to decrease their positions in the mentioned securities during the ban period, with any increase in positions subject to penalties. No fresh positions are allowed in the F&O contracts of the banned stocks during the prohibition period.

On April 10, the Sensex surged by 354 points to surpass the 75,000 mark for the first time, with the Nifty also reaching a new high driven by gains in FMCG, energy, and metal shares.

The Sensex settled at an all-time high of 75,038.15, while the Nifty closed at a record peak of 22,753.80. In the broader market, the BSE midcap index rose by 0.89% and the smallcap index by 0.46%. Notable sectoral gains were seen in oil & gas, energy, metal, commodities, and services, with respective increases ranging from 1.15% to 1.74%.

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