A total of three scrips have been banned for trading on Friday, March 24, 2023, under the Futures and Options (F&O) segment by the National Stock Exchange (NSE). The securities are restricted under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL) as per NSE.
Indiabulls Housing Finance, Hindustan Aeronautics Limited (HAL) and Biocon are the three stocks which are part of the F&O ban list by the stock exchange for today. NSE updates the list of securities in the F&O limit for trading daily.
NSE said that the derivative contracts in the mentioned securities have crossed 95% of the market wide position limit and hence are currently put in the ban period by the stock exchange.
“It is hereby informed that all clients/members shall trade in derivative contracts of the said securities only to reduce their positions by way of offsetting positions,” the stock exchange said. Added.
No fresh position is allowed for any F&O contract in that particular stock when it is under the F&O restriction period. MWPL (Market-Wide Position Limit) is set by the stock exchanges which is the maximum number of contracts that can be opened at any point of time (Open Interest), therefore, F&O contracts of that stock enter into a restriction period if open Interest crossed 95% of MWPL.
Meanwhile, for Friday, Indian indices may see a lower start as SGX Nifty, Singapore Nifty which is the Indian Nifty traded on Singapore Stock Exchange, indicated a sluggish start for the Indian stock market today.
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