March 20: NSE Bans Trading in 9 Stocks as Market-wide Position Limits Exceeds

20 Mar 2024 , 09:34 AM

The National Stock Exchange (NSE) has banned trading in 9 stocks under the futures and options (F&O) segment on March 20, 2024, due to crossing 95% of the market-wide position limit (MWPL).

The banned securities include Balrampur Chini Mills, BHEL, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, SAIL, and ZEEL.

However, these stocks will remain available for trading in the cash market. NSE updates the list of securities under the F&O ban daily based on their market-wide position limits. No fresh positions are permitted in the F&O contracts of these stocks during the ban period.

On Tuesday, the Sensex plummeted by 736 points, closing at 72,012.05, while the Nifty dropped by 238.25 points to settle at 21,817.45.

The decline in the indices was attributed to a sell-off in major stocks like TCS, Infosys, and RIL, along with weak Asian trends following Japan’s central bank’s rate hike after 17 years.

Both the BSE midcap and smallcap indices also witnessed declines of 1.36% and 1.04%, respectively, indicating a broad-based market downturn.

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