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March 4: NSE Bans ZEEL Stock from F&O Trading as it Hits MWPL Limit

4 Apr 2024 , 11:32 AM

Only one stock, ZEEL, is banned from trading in the futures and options (F&O) segment on March 4, 2024, by the National Stock Exchange (NSE). As per NSE regulations, ZEEL is placed on the F&O ban list as it exceeded 95% of the market-wide position limit (MWPL).

The ban is specific to derivative contracts, and ZEEL remains available for trading in the cash market. NSE updates the F&O ban list daily, taking into account securities that breach the 95% MWPL threshold.

During the ban period, traders can only engage in derivative contracts for ZEEL to reduce existing positions through offsetting positions, with penalties for any increase in open positions.

The ban does not allow fresh positions for any F&O contracts related to ZEEL. In a special trading session on Saturday, Sensex and Nifty achieved new closing highs, propelled by positive GDP data and foreign fund inflows.

BSE Sensex closed at a record 73,806.15, up 0.08%, with an intraday high of 73,994.70. Nifty reached a new closing high of 22,378.40, up 0.18%, and hit an intraday peak of 22,419.55.

The market capitalization of BSE-listed companies also reached an all-time high of ₹394.06 Lakh Crore during the session.

For feedback and suggestions, write to us at editorial@iifl.com


Related Tags

  • F&O ban list
  • NSE
  • NSE Ban list
  • Stocks under F&O ban
  • Top News
  • ZEEL
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