April 3: Hindustan Copper Sole Stock Banned in NSE's F&O Segment

3 Apr 2024 , 09:51 AM

On Wednesday, April 3, 2024, the National Stock Exchange (NSE) banned trading in only one stock under the futures and options (F&O) segment, as it surpassed 95% of the market-wide position limit (MWPL).

Despite being banned in the F&O segment, the stock remains available for trading in the cash market. Hindustan Copper is the sole stock on the F&O ban list for April 3, as updated by the NSE, due to its derivative contracts exceeding the 95% MWPL.

According to the NSE, clients and members are only allowed to trade in derivative contracts of the banned security to reduce their positions; any increase in open positions will result in penalties.

During Tuesday’s trading session, the Sensex fell by 110 points, marking an end to its three-day winning streak, primarily due to profit-taking in select IT, private bank, and auto shares.

The BSE Sensex settled at 73,903.91, with 16 components ending lower and 14 higher, dropping to a low of 73,743.77 during the day.

The NSE Nifty closed lower by 8.70 points at 22,453.30, despite a recovery towards the end of the session. In the broader market, the BSE smallcap gauge rose by 1.28%, and the midcap index climbed by 1.14%.

Sector-wise, tech, IT, telecommunication, and banks experienced declines, while consumer durables, services, metal, utilities, and commodities witnessed gains.

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