Stock market today: Indus Towers and SAIL under F&O ban list today

livemint.com:

Indian stock market today: A total of 2 stocks have been banned for trade on Thursday, February 29, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Indus Towers and SAIL are the 2 stocks that are part of the F&O ban list by the stock market exchange for February 29. The NSE updates the list of securities in the F&O ban for trade every day. The derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," said NSE. No fresh positions are allowed for any of the F&O contracts in the particular stock when placed under the F&O ban period by the stock exchanges.

Benchmark Sensex tanked more than 1 per cent while Nifty declined below the 22,000 level on Wednesday due to selling in index heavyweight Reliance Industries and bank stocks amid weak global market trends. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88 with 26 of its constituents ending in the red and four in the green. During the day, it tanked 872.93 points or 1.19 per cent to a low of 72,222.29.