The National Stock Exchange (NSE) has banned trading in seven stocks in the futures and options (F&O) segment on Monday, October 7, because they exceeded 95% of the market-wide position limit (MWPL). However, these stocks are still available for trading in the cash market. The list of banned stocks is updated daily by the NSE.
Stocks on F&O ban list for October 7:
- Bandhan Bank
- Birlasoft
- GNFC
- Granules India
- Hindustan Copper
- Manappuram Finance
- RBL Bank
The NSE explained that these stocks have crossed the 95% MWPL limit and are now in the F&O ban period. During this period, traders can only reduce their existing positions and no new positions are allowed. If traders try to increase their positions, they may face penalties or disciplinary action.
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On October 4, Indian stock markets experienced a sharp drop for the fifth consecutive day. The Sensex fell by 808 points, largely driven by heavy selling in FMCG, auto, and energy shares, as well as foreign investors withdrawing funds due to the rising conflict in West Asia.
The BSE Sensex closed 808.65 points lower, at 81,688.45, after fluctuating between a low of 81,532.68 and a high of 83,368.32. The NSE Nifty also dropped by 235.50 points, ending the day at 25,014.60.
In just four trading sessions, the Sensex lost 3,883.4 points (4.6%) and the Nifty dropped by 1,164.35 points (4.5%), marking their worst week in two years. Meanwhile, the BSE midcap index fell by 0.94% and the smallcap index by 0.80%.
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