F&O Trade Ban Imposed On 12 Stocks Amid High Open Interest Levels For Friday

A dozen stocks are under a ban on Friday for Futures and Options (F&O) trading as they have breached the market-wide position limit (MWPL) thresholds. This restriction affects investors and traders in Bandhan Bank, Birlasoft, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India, Hindustan Copper, IDFC First Bank, Manappuram Finance, Punjab National Bank (PNB), RBL Bank, Steel Authority of India (SAIL), and Tata Chemicals.

The imposition of the ban comes as the open interest (OI) for these stocks crossed 95 per cent of their MWPL. Notably, the MWPL for Bandhan Bank stood at 84 per cent on Thursday, with an OI of 106.7 million, reflecting a marginal decline of 0.1 per cent from the previous session. Birlasoft's MWPL was recorded at 81.2 per cent, with an OI of 13.8 million, down by 1.1 per cent. Chambal Fertilizers was an outlier with its MWPL at 112.5 per cent, where the OI increased by 21.4 per cent to reach 13.5 million.

For GNFC, the MWPL was reported at 100 per cent, with an OI of 6.7 million, reflecting a decrease of 1 per cent. Granules India’s MWPL stood at 94.4 per cent, with an OI of 13.2 million, down 1.8 per cent. Hindustan Copper, with an MWPL of 89.2 per cent and an OI of 36 million, saw a slight decline of 0.2 per cent. Similarly, IDFC First Bank’s MWPL was at 87.2 per cent, with a reported OI of 473.8 million, down by 1.5 per cent.

Manappuram Finance reported an MWPL of 88.4 per cent with an OI of 66.9 million, while PNB’s MWPL was 92.3 per cent, with an OI of 329.7 million, reflecting a 0.5 per cent decline. RBL Bank’s MWPL stood at 90.6 per cent, with OI of 80 million, down by 0.3 per cent. SAIL was reported at 92.1 per cent MWPL with an OI of 151.1 million, also down 0.5 per cent. Finally, Tata Chemicals had an MWPL of 90 per cent, with a reported OI of 13.4 million, down by 6.4 per cent.

On the broader market front, Indian headline indices opened higher on Thursday, buoyed by positive global cues suggesting possible rate cuts in the US. However, they could not maintain their upward momentum and ended the day near their lows. The Nifty50 index closed at 24,998.5, down 0.07 per cent or 16.5 points, while the Sensex rose by 0.18 per cent, closing at 81,611.4, up by 144 points.