March 5: Zee Entertainment Faces F&O Ban

5 Mar 2024 , 10:36 AM

Zee Entertainment Enterprises faced a trade ban in the F&O segment on Tuesday due to its MWPL reaching 124.1% on Monday, with an OI of 93.4 million reported by Trendlyne, marking a 1.4% decline from the previous session.

The ban on Zee began on Saturday, as BSE and NSE opted to keep the market open over the weekend to evaluate system readiness for unforeseen events.

F&O contracts of any stock are banned when its open interest (OI) surpasses 95% of the market-wide positions limit (MWPL), and the ban is lifted only if OI drops below 80%. Index traders are exempt from security bans.

Zee shares concluded Monday’s trading at ₹154.95 on the NSE, marking a decrease of ₹3.45 or 2.18%. The termination of its deal with Sony has garnered significant attention, contributing to a nearly 20% loss over the past year.

Indian benchmark indices closed Monday’s trading session positively, with the S&P BSE Sensex settling at 73,872.29, up by 66.14 points or 0.09%, and the Nifty closing at 22,405.60, up by 27.20 points or 0.12%. The Nifty reached a new peak of 22,440.90 during the session.

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