February 23: 15 Stocks Banned in NSE's F&O Segment as Market Limits Exceeded

23 Feb 2024 , 09:46 AM

On February 23, 2024, the National Stock Exchange (NSE) imposed a ban on 15 stocks under the futures and options (F&O) segment due to exceeding 95% of the market-wide position limit (MWPL).

The stocks in question are Aditya Birla Fashion and Retail, Ashok Leyland, Balrampur Chini Mills, Bandhan Bank, Biocon, GMR Infra, GNFC, Hindustan Copper, Indus Towers, National Aluminium Company, Piramal Enterprises, PVR INOX, RBL Bank, SAIL, and ZEEL.

Despite the F&O ban, these stocks remain available for trading in the cash market.

The National Stock Exchange updates the F&O ban list daily. According to the NSE, derivative contracts in these securities have crossed the 95% MWPL, leading to the imposition of the ban period.

Traders and clients are advised by the NSE to only trade in derivative contracts of the banned securities to reduce their positions through offsetting positions. Any increase in open positions will result in appropriate penal and disciplinary action.

No fresh positions are permitted in any F&O contracts of the stocks under the ban period.

On the trading front, a strong recovery was observed on Thursday, with Nifty reaching an all-time high and Sensex surging over 500 points. This was attributed to increased buying activity in IT, technology, and automobile stocks.

Despite volatility earlier in the session, benchmark indices rebounded in the last hour of trading due to positive domestic macroeconomic indicators and encouraging global cues, including strong earnings from the US technology sector.

The 30-share benchmark Sensex closed at 73,158.24 points, up by 535.15 points or 0.74%. The Nifty climbed 162.40 points or 0.74% to reach its highest-ever closing level of 22,217.45 points.

Throughout the trading day, the Sensex touched an intra-day high of 73,256.39 points, with 22 Sensex constituents closing in positive territory. The Nifty reached an intraday peak of 22,252.50 points, with 25 Nifty constituents ending the session with gains.

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