NSE F&O Ban: IRCTC, PNB, SAIL, NALCO and others under ban today

#Ban #Nifty #NSE

NSE has banned the trading of F&O up to ten stocks on October 22, 2021
According to the NSE these stocks have exceeded 95 percent of MWPL
The same ten stocks that were put in the F&O ban list on Wednesday, continue to be under the ban for today

Written By:Yash

Updated: October 21 2021 05:52:55 PM ET

The National Stock Exchange (NSE) has banned the trading of futures and options (F&O) up to ten stocks/securities on Friday, October 22, 2021. According to the NSE, these stocks are prohibited in the F&O sector because they have exceeded 95 percent of the market-wide position limit (MWPL).

Also Read| Sensex above 61,000 while Nifty rises over 60 points in early trade

The ten stocks under F&O ban on NSE today are Indian Railway Catering and Tourism Corporation (IRCTC), Punjab National Bank (PNB), Vodafone Idea, Sun TV, National Aluminium Company Limited (Nalco), Escorts, Amara Raja Batteries Ltd, L&T Finance Holdings, Tata Power, and Steel Authority of India (SAIL).

The derivative contracts in the aforementioned securities have exceeded 95 percent of the market-wide position limit and have thus been placed in a ban period by the stock exchange.

Also Read| Gold price on Friday, October 22, 2021

“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,” the stock exchange said. “Any increase in open positions shall attract appropriate penal and disciplinary action,” NSE added.

Also Read| Silver price on Friday, October 22, 2021

During the F&O ban period, no new positions are permitted for any of the F&O contracts in that stock. The stock exchanges set the MWPL (market-wide position limit), which is the maximum number of contracts that can be open at any moment (Open Interest) thus, the F&O contracts of that stock enter a ban period if the open interest exceeds 95 percent of the MWPL.