March 15: NSE Bans Trading in 9 Stocks

15 Mar 2024 , 09:36 AM

National Stock Exchange (NSE) bans trading in 9 stocks under the futures and options (F&O) segment on March 15, 2024, due to exceeding 95% of the market-wide position limit (MWPL). However, these stocks remain available for trading in the cash market.

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

NSE updates the F&O ban list daily based on securities exceeding the MWPL. Derivative contracts in these securities have surpassed 95% of the MWPL, leading to the ban period, as per NSE.

NSE advises traders to decrease their positions through offsetting positions, with penalties for increasing open positions during the ban period.

The National Stock Exchange (NSE) has announced that clients or members are only permitted to trade in derivative contracts of the specified security to reduce their existing positions by offsetting them. Any attempts to increase open positions will result in appropriate penal and disciplinary actions.

During the futures and options (F&O) ban period imposed by stock exchanges, no fresh positions can be initiated for any F&O contracts related to the particular stock.

On Thursday, the benchmark Sensex surged by 335 points, with the Nifty closing above the 22,100 mark. This recovery was attributed to buying interest in IT and capital goods shares, which helped the broader markets bounce back from the sharp losses seen in the previous trading session.

Sensex rebounds by 335 points, with Nifty closing above 22,100 on Thursday, driven by IT and capital goods shares’ buying.

Sensex settles at 73,097.28, up 0.46%, while Nifty closes at 22,146.65, up 0.68%. BSE Smallcap gauge surges 3.11%, and midcap index climbs 2.28%. Notable sectoral gains include services (3.99%), telecommunication (3.81%), utilities (3.38%), oil & gas (3.11%), power (2.93%), industrials (2.66%), and commodities (2.49%).

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