NSE Bans Trading in 10 Stocks as Market Limits Exceed

8 Feb 2024 , 10:35 AM

The National Stock Exchange (NSE) has imposed a ban on trading ten stocks in the futures and options (F&O) segment on February 08, 2024. This action is taken as these securities have surpassed 95% of the market-wide position limit (MWPL), as reported by the NSE.

The banned stocks include Ashok Leyland, Balrampur Chini Mills, Delta Corp, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, SAIL, UPL, and ZEE Entertainment Enterprises.

Despite the F&O ban, these stocks remain available for trading in the cash market. The NSE updates the F&O ban list daily based on market-wide position limits.

Derivative contracts for the mentioned securities, exceeding 95% of MWPL, are currently under the ban period, as per the NSE.

Traders and members are advised to decrease their positions through offsetting positions, and any increase in open positions will face penal and disciplinary action.

During the previous trading session, the benchmark stock indices, Sensex and Nifty, experienced flat closures amidst volatility.

The BSE Sensex declined by 34.09 points (0.05%) to settle at 72,152, with highs and lows of 72,559.21 and 71,938.22, respectively. The Nifty marginally increased by 1.10 points (0.01%) to 21,930.50.

IT shares such as TCS, Infosys, and Tech Mahindra saw declines due to profit-taking, offsetting gains in select banking and pharma shares. In the broader market, the BSE midcap gauge rose by 1.31%, while the smallcap index advanced by 0.38%.

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