This State-Owned Stock Enters F&O Ban List by NSE on Nov 2
By Malvika Gurung
Investing.com — A new stock has been added to the Futures and Options (F&O) ban list for trade by the National Stock Exchange on Nov 2, 2022, making it the first one in the month.
The state-owned lender Punjab National Bank (NS:) is the stock added to the ban list for trade on Wednesday.
The public sector bank’s standalone net profit declined 63% YoY in the Sept quarter to Rs 411 crore, backed by higher provisioning for bad loans, which surged 32% to Rs 3,555.98 crore in the quarter.
PNB’s asset quality in the period improved as gross NPA declined 13.2% YoY to Rs 87,034.8 crore.
The aforementioned security has exceeded 95% of the market-wide position limit (MWPL), thereby banned for trade under the futures and options segment in the day, and shall continue remaining on the list until their positions fall below 80%.
While on the Futures and Options ban list, no new/fresh F&O positions can be bought or sold for the stock(s), else that trader gets penalised. Traders with existing positions in that security can unwind their positions.
Moreover, the market-wide position limit is set by the stock exchanges.
The NSE directs all clients/members to trade in the derivative contracts of the aforementioned securities only to decrease their positions through offsetting positions.
The leading stock exchange updates the list of securities in the F&O ban for trade every day.
By Malvika Gurung
Investing.com — A new stock has been added to the Futures and Options (F&O) ban list for trade by the National Stock Exchange on Nov 2, 2022, making it the first one in the month.
The state-owned lender Punjab National Bank (NS:) is the stock added to the ban list for trade on Wednesday.
The public sector bank’s standalone net profit declined 63% YoY in the Sept quarter to Rs 411 crore, backed by higher provisioning for bad loans, which surged 32% to Rs 3,555.98 crore in the quarter.
PNB’s asset quality in the period improved as gross NPA declined 13.2% YoY to Rs 87,034.8 crore.
The aforementioned security has exceeded 95% of the market-wide position limit (MWPL), thereby banned for trade under the futures and options segment in the day, and shall continue remaining on the list until their positions fall below 80%.
While on the Futures and Options ban list, no new/fresh F&O positions can be bought or sold for the stock(s), else that trader gets penalised. Traders with existing positions in that security can unwind their positions.
Moreover, the market-wide position limit is set by the stock exchanges.
The NSE directs all clients/members to trade in the derivative contracts of the aforementioned securities only to decrease their positions through offsetting positions.
The leading stock exchange updates the list of securities in the F&O ban for trade every day.