NSE puts 15 stocks under F&O Ban that crossed 95% MWPL on January 15, 2024

15 Jan 2024 , 12:09 PM

On Monday, January 15, a total of fifteen stocks, namely Bandhan Bank, The India Cements, Bharat Heavy Electricals (BHEL), Chambal Fertilizers & Chemicals, Escorts Kubota, Delta Corp, Hindustan Copper, Indus Towers, Metropolis Healthcare National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox, Steel Authority of India (SAIL), and Zee Entertainment Enterprises (ZEEL), are placed under the F&O ban list.

On the other hand, the Indian Energy Exchange has moved out of the ban.

F&O contracts for any stock enter the prohibition period when their open interest (OI) exceeds 95% of the market-wide position limitations or MWPL. The prohibition is only lifted if the open interest falls below 80%.

Traders who trade indices do not face security bans.

Traders and participants are cautioned to engage exclusively in derivative contracts of the restricted securities to reduce their positions by utilizing offsetting positions. Any escalation in open positions could lead to penal and disciplinary actions.

On Friday, Indian benchmarks touched new record highs, boosted by robust advances in IT equities, particularly Infosys. While the S&P BSE Sensex reached 72,720.96 before ending at 72,568.45, up 847.27 points or 1.18%, the broader Nifty index was at 21,928.25 before closing at 21,894.55, up 247.35 points or 1.14%.

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