March 14: NSE Bans 9 Stocks from F&O Trading

14 Mar 2024 , 09:55 AM

On Thursday, March 14, 2024, the National Stock Exchange (NSE) banned trading in 9 stocks under the futures and options (F&O) segment due to crossing 95% of the market-wide position limit (MWPL).

The banned stocks include Aditya Birla Fashion and Retail, Hindustan Copper, Manappuram Finance, National Aluminium Company, Piramal Enterprises, RBL Bank, SAIL, Tata Chemicals, and ZEEL.

However, these stocks remain available for trading in the cash market. The NSE updates the list of banned securities daily, with the derivative contracts of the mentioned stocks currently exceeding the MWPL.

Clients/members are only allowed to trade these derivative contracts to decrease their positions; any increase in positions will face penalties. During the ban period, no fresh positions are permitted for any F&O contracts of the specified stocks.

On Wednesday, the Sensex plunged over 900 points, closing below the 73,000 mark, attributed to widespread selling pressure, particularly impacting smallcap and midcap indices.

The Sensex settled at 72,761.89, marking a decline of 1.23%, while the Nifty dropped 338 points or 1.51% to 21,997.70. In the broader market, the BSE smallcap gauge and midcap index witnessed significant declines of 5.11% and 4.20%, respectively.

All major indices ended in the red, with utilities, metal, services, telecommunication, oil & gas, commodities, and industrials sectors experiencing notable drops.

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