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By EquityPandit

MARKETS

Stocks Under F&O Ban: Can Fin Homes, Manappuram Finance, Bandhan Bank, and Others 

Picture Source: Internet

Under the futures and options (F&O) segment, nine stocks were banned from trade on Friday, 24 January, by the National Stock Exchange (NSE). The securities banned for the F&O trade are Aditya Birla Fashion and Retail, Bandhan Bank, Can Fin Homes, Dixon Technologies (India), Indiamart Intermesh, L&T Finance, Manappuram Finance, Mahanagar Gas, and Punjab National Bank. 

Derivative contracts of these stocks were banned as the open market interest for these securities has crossed 95% of the market-wide position limit (MWPL) set by the exchanges. The MWPL is the maximum number of contracts that can be opened at any particular time.

Bandhan Bank, Can Fin Homes, and Punjab National Bank were retained on the list from Wednesday as the open interest as a percentage of the MWPL of its F&O contracts stood at 82.2%, 84.3% and 91.4%, respectively. L&T Finance derivative contracts’ open interest was 85.4% of its MWPL on 24 January, compared to 90.7% for Dixon Technologies and 90.9% for Indiamart Intermesh. 

Aditya Birla Fashion, Mahanagar Gas, and Manappuram Finance were also retained on the F&O ban list, and the open interest of its MWPL contracts stood at 82.9%, 88.4%, and 84.7%, respectively.

The ban will be lifted once the position falls below 80%. Traders will get penalised for buying or selling these securities. They will be available for trading in the cash market. 

The open interest for F&O contracts of RBL India declined below the 80% limit. Hence, it was removed from the list on Friday.

The National Stock Exchange updates the list of securities on the F&O ban list daily. This list serves as a guide for traders and investors in the market. Traders who trade in indices do not encounter a situation of security ban.

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