March 26: Four Stocks Banned in NSE's F&O Segment Due to MWPL Breach

26 Mar 2024 , 09:32 AM

Four stocks, namely Biocon, SAIL, Tata Chemicals, and ZEEL, were banned from trading in the futures and options (F&O) segment by the National Stock Exchange (NSE) on March 26, 2024.

This ban was imposed because these stocks crossed 95% of the market-wide position limit (MWPL) set by the NSE.

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

The NSE updates this ban list daily based on securities exceeding the 95% MWPL threshold.

Trading restrictions are in place during the ban period. Derivative contracts for these securities can only be traded to reduce existing positions.

Any increase in open positions during the ban period will result in appropriate penalties and disciplinary actions.

Market performance on March 22, 2024 is the Sensex rose by 190.75 points to settle at 72,831.94, with a peak of 474.43 points during the day. The Nifty advanced by 84.80 points to reach 22,096.75.

These gains were attributed to index majors such as L&T, ITC, and Maruti, alongside a record rally in US markets following the Federal Reserve’s indication of three rate cuts for the year.

On a weekly basis, the BSE benchmark climbed by 188.51 points (0.25%), and the Nifty increased by 73.4 points (0.33%).

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