A total of two scrips have been banned for trading on Wednesday, January 11, 2023, under the Futures and Options (F&O) segment by the National Stock Exchange (NSE). These securities have been restricted under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per NSE.
Indiabulls Housing Finance and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) are the stocks that remain part of the F&O ban list for today. NSE updates the list of securities in the F&O limit for trading daily.
“It is hereby informed that all clients/members shall trade in derivative contracts of the above securities only to reduce their positions by way of offsetting positions,” the stock exchange said. “Any increase in open positions will attract appropriate penal and disciplinary action,” NSE added.
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.
No fresh positions are allowed for any F&O contract in a particular stock 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 Wednesday, the Indian indices may see a higher opening as SGX Nifty, Singapore Nifty which is the Indian Nifty traded on the Singapore Stock Exchange, indicated to open with modest gains for the Indian. stock market today,
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