SAIL, PNB continue to list stocks under F&O ban on NSE

According to NSE, these securities have been banned under the F&O segment as they have crossed 95% of the market-wide position limit (MWPL).

“It is hereby informed that all the clients/members shall trade in derivative contracts of the said security only to reduce their position by way of offsetting positions,” the stock exchange said. “Any increase in open positions will attract appropriate penalty and disciplinary action,” the NSE added.

Indiabulls Housing, one of India’s leading housing finance companies (HFCs), is a part of Indiabulls Group and offers home loans in the affordable housing segment. Whereas, NALCO is a Navratna CPSE under the Ministry of Mines. The company has integrated and diversified operations in mining, metals and power.

One of the largest steel making companies in India, SAIL produces iron and steel in five integrated plants and three specialized steel plants. It also manufactures and sells a wide range of steel products. Punjab National Bank (PNB) and Canara Bank are among the largest public sector lenders owned by the Ministry of Finance, Government of India.

NSE said that the derivatives contracts in the mentioned securities have crossed 95% of the market-wide position limits and are therefore currently placed in the ban period by the stock exchange.

No fresh positions are allowed for any F&O contract in that particular stock under the F&O restriction period. The MWPL (market-wide position limit) is set by the stock exchanges which is the maximum number of contracts that can open at any given time (open interest), therefore, the F&O contracts of that stock enter a restriction period if the open interest MWPL exceeded 95%.