March 21: NSE Bans 8 Stocks in F&O Segment

21 Mar 2024 , 10:16 AM

National Stock Exchange (NSE) imposes a ban on trading for 8 stocks in the Futures and Options (F&O) segment on March 21, 2024. This action is due to these stocks exceeding 95% of the market-wide position limit (MWPL), as per NSE regulations.

Despite the ban in the F&O segment, these stocks remain available for trading in the cash market.

The list of banned stocks includes Balrampur Chini Mills, Biocon, Hindustan Copper, Indus Towers, Piramal Enterprises, RBL Bank, Tata Chemicals, and ZEEL. NSE revises the ban list daily based on fluctuations in the MWPL status of stocks.

Traders are instructed to engage in trading activities only to reduce existing positions during the ban period. Any attempts to increase open positions during this period may result in penalties or disciplinary actions, as stated by NSE guidelines.

Meanwhile, the stock market witnesses a rebound on March 20, 2024. The Sensex, India’s benchmark index, registers a gain of 89.64 points, closing at 72,101.69. Similarly, the Nifty, another key index, rises by 21.65 points to reach 21,839.10.

Notable sectors contributing to the market’s positive performance include energy, oil & gas, power, telecommunication, auto, and utilities.

Conversely, certain sectors such as commodities, financial services, IT, metal, and technology witness declines during this trading session.

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