IndiaBulls Housing Finance, Manappuram Finance under F&O ban on NSE today. Details here
A total of two stocks have been put under the ban for trade on Thursday, June 8, 2023 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they have crossed 95 percent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.
Indiabulls Housing Finance Ltd, and Manappuram Finance are the three stocks that are a part of the F&O ban list by the stock exchange for today. The NSE updates the list of securities in F&O ban for trade everyday.
The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and are therefore have been currently put in the ban period by the stock exchange, said NSE.
“It is hereby informed that all clients/ members shall trade in derivative contracts of Indiabulls Housing Finance Ltd, India Cements and Manappuram Finance by offsetting their existing positions till the open interest comes down to 80% of the market wide position limit,” said NSE.
Fresh positions are not allowed for any of the F&O contracts in the particular stock when it is placed under the F&O ban period. The MWPL 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 per cent of the MWPL.
Indian market ended in red on Thursday despite in-line monetary policy outcomes by RBI.
Sensex ended at 62,848.64 down by 294.32 points or 0.47%. While Nifty 50 closed at 18,634.55, lower by 91.85 points or 0.49%. Bank Nifty shed over 280 points, while BANKEX declined over 402 points.
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Updated: 08 Jun 2023, 11:04 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.