PNB part of NSE’s F&O ban stock list. Details inside
Only one stock has been put under the ban for trade on Tuesday, December 2, 2022 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The counter has been put on ban under the F&O segment as it has crossed the 95% of the market-wide position limit (MWPL), as per the NSE.
Punjab National Bank (PNB) is the stock that is part of the F&O ban list for today. Whereas, Indiabulls Housing Finance, that was part of the ban in the previous sessions, is out of the list for Tuesday by the stock exchange. The NSE updates the list of securities in F&O ban for trade everyday.
“It is hereby informed that all clients/members shall trade in the derivative contracts of said securities only to decrease their positions through offsetting positions,” the stock exchange said. “Any increase in open positions shall attract appropriate penal and disciplinary action,” NSE added.
The derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and are therefore have been currently put in the ban period by the stock exchange, said NSE.
No fresh positions are allowed for any of the F&O contracts in that particular stock when it is under the F&O ban period. The MWPL (market-wide position limit) is set by the stock exchanges which is the maximum number of contracts that can be open at any time (Open Interest), therefore, the F&O contracts of that stock enter a ban period if the open interest crosses 95% of the MWPL.
Meanwhile, for Tuesday, Indian indices may witness a positive start as SGX Nifty, Singapore Nifty that is the Indian Nifty traded in the Singapore Stock Exchange, indicates a higher opening for the Indian stock market today.
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