The National Stock Exchange (NSE) has banned trading in the futures and options (F&O) segment for five stocks on Thursday, June 27, 2024, as they exceeded 95% of the market-wide position limit (MWPL). These stocks, however, will still be available for trading in the cash market.
The five stocks on the F&O ban list for June 27 are GNFC, India Cements, Indus Towers, PNB, and SAIL. The NSE stated that derivative contracts in these securities have crossed 95% of the MWPL, placing them in the exchange’s ban period. During this period, trading in the derivative contracts of these securities is restricted to offsetting positions only, and any increase in open positions will attract penalties and disciplinary action. No new positions are allowed in F&O contracts of these stocks during the ban period.
On June 26, the stock market benchmark indices Sensex and Nifty rallied for the third consecutive session, reaching fresh all-time high levels. The 30-share BSE Sensex climbed 620.73 points (0.80%) to settle at a new closing peak of 78,674.25, and during the day, it surged 705.88 points (0.90%) to hit an all-time high of 78,759.40. The Nifty increased by 147.50 points (0.62%) to settle at a record closing peak of 23,868.80, with an intra-day high of 23,889.90, rising by 168.6 points (0.71%).
In the broader market, the BSE small-cap gauge rose by 0.15%, while the mid-cap index declined by 0.29%.
