April 15: NSE Bans Nine Stocks in F&O Segment

15 Apr 2024 , 10:08 AM

On Monday, April 15, 2024, the National Stock Exchange (NSE) took action against nine stocks in the futures and options (F&O) segment. These stocks were barred from trading due to surpassing 95% of the market-wide position limit (MWPL). Among the affected stocks were Balrampur Chini Mills, GNFC, Hindustan Copper, Idea, India Cements, Metropolis Healthcare, National Aluminium Company, Piramal Enterprises, and ZEEL. However, investors can still trade these stocks in the cash market.

This ban reflects a precautionary measure by the NSE to regulate market activities and prevent excessive speculation. Under this ban, investors are restricted from initiating new positions in derivative contracts for these stocks. They are only allowed to reduce existing positions to mitigate risks.

Meanwhile, the broader market witnessed a downturn on April 12, 2024, with both the Sensex and Nifty indices experiencing a 1% decline. This drop was attributed to profit-taking activities across various sectors. The Sensex, comprising 30 key stocks, plummeted by 793.25 points to settle at 74,244.90. Throughout the trading day, it recorded a maximum decline of 848.84 points. Similarly, the Nifty index, representing 50 major stocks, saw a decline of 234.40 points, closing at 22,519.40. 

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