Six Stocks Under F&O Ban On Friday

On Friday, six Indian stocks — Bandhan Bank, Birlasoft, Granules India, Hindustan Copper, Manappuram Finance, and RBL Bank — entered the Futures and Options (F&O) trade ban. This comes as Indian markets experienced a sharp decline, with benchmark indices Nifty50 and S&P BSE Sensex falling more than 2 per cent on Thursday due to escalating geopolitical tensions in the Middle East.

A stock enters the F&O ban period when the open interest (OI) on its contracts surpasses 95 per cent of the market-wide position limits (MWPL). The restrictions are lifted only when the OI falls below 80 per cent. These restrictions do not affect index traders, allowing them to continue operations uninterrupted.

As of Thursday, the MWPL for Bandhan Bank stood at 90.7 per cent, with its OI reported at 114.5 million, down 3.9 per cent from the previous session. Birlasoft's MWPL was at 94.5 per cent, with an OI of 16 million, registering a 6.3 per cent decline. Granules India, however, saw its MWPL rise sharply to 125.3 per cent, with OI reaching 17.3 million, a 52.2 per cent jump from the prior session.

Hindustan Copper also witnessed its MWPL at a concerning 100.1 per cent, with an OI of 38.8 million, though down 2.7 per cent. Manappuram Finance and RBL Bank followed with MWPLs of 101.1 per cent and 97.5 per cent, respectively. Manappuram's OI increased by 7.8 per cent to 75.4 million, while RBL Bank saw a slight dip in OI by 2.3 per cent, bringing it to 84.5 million.

Thursday’s stock market turmoil saw Nifty50 drop by 547 points to close at 25,250, while the Sensex plummeted by 1,769 points, finishing at 82,497. The sell-off was attributed to a combination of rising global concerns, particularly the intensifying Middle East conflict, which added to investors' risk aversion.