The National Stock Exchange (NSE) has imposed a futures and options (F&O) ban on nine stocks for trade on Thursday, September 14, 2023. These stocks have crossed 95% of the market-wide position limit (MWPL), prompting their inclusion in the F&O ban list. However, they will remain available for trading in the cash market.
The nine stocks placed under the F&O ban by the NSE are as follows:
- Steel Authority of India (SAIL)
- India Energy Exchange (IEX)
- Manappuram Finance
- India Cements
- Delta Corp
- National Aluminium Company
- REC Ltd
- Hindustan Copper
- Indiabulls Housing Finance
The NSE regularly updates the list of securities in the F&O ban for trade, and the inclusion of these stocks in the ban list is a result of their derivative contracts crossing 95% of the MWPL.
The NSE has issued a statement regarding these stocks’ ban status, stating, “It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action.”
During the F&O ban period, no fresh positions are allowed for any of the derivative contracts related to these stocks. Traders and investors should be aware of these restrictions and manage their positions accordingly.
On the previous trading day, domestic markets witnessed positive momentum, with the Nifty closing above the significant 20,000 mark for the first time. This surge was driven by positive macroeconomic data, leading to buying interest in banking, energy, and telecom shares.
The Sensex settled at 67,466.99, marking an increase of 245.86 points or 0.37%. This marked the ninth consecutive session of gains, representing the longest winning streak in the past five months.
Mid and small-cap stocks, which had experienced significant losses in the previous session, resumed their upward trajectory. The BSE Midcap index rose by 0.19%, while the Smallcap index recorded a gain of 0.85%.
Notable gainers in the market included heavyweight stocks like Bharti Airtel and Titan Company, while M&M and L&T were among the major drags.
Traders and investors should closely monitor market developments, including the F&O ban list, as they navigate their investment strategies in the coming sessions.