PVR Inox, SAIL, PNB may soon enter F&O ban; SRF, Oil India top movers

On Thursday, 5 stocks - Bandhan Bank, Hindustan Copper, L&T Finance, Manappuram Finance and RBL Bank were placed under futures & options ban period on the NSE.

As of Thursday, 5 out of 223 stocks from the futures & options (F&O) segment were placed under the ban period. Bandhan Bank, Hindustan Copper, L&T Finance, Manappuram Finance and RBL Bank were the 5 stocks.  During the ban period, taking of fresh positions in the particular stock is not allowed. In case, a trader takes a fresh position by mistake, the stock exchange (NSE) levies a fine up to Rs 5,000. However, traders holding existing positions are allowed to square their position.  A stock enters the ban period, as and when the combined open positions in futures & options crosses the set 95 per cent market wide limit for that particular stock.  The Market Wide Position Limit (MWPL) is a limit set by the stock exchange based on either of two criteria's - 20 per cent of the free-float equity capital, excluding promoter holdings or 30 times the average volume of the stock in the previous trading month.  Stocks that may enter F&O ban soon  On Thursday, PVR Inox and Aarti Industries open positions had reached up 87 per cent of the market wide limit set for the stock. That apart, there were 8 other stocks with open positions in excess of 80 per cent of the set MWPL; thus risking the possibility of entering F&O ban period soon.    The other 8 stocks are - Mahanagar Gas, Chambal Fertilisers, Aditya Birla Fashion Retail, Indraprastha Gas, Can Fin Homes, Punjab National Bank (PNB), GNFC and SAIL.  Top movers & shakers  SRF January futures contract was the top gainer in the F&O space, up 11.5 per cent. It was followed by Navin Fluorine, Indraprastha Gas, Zydus Life, Marico and Colgate Palmolive.  On the other hand, Oil India was the biggest loser, down 8 per cent, followed by Kalyan Jewellers, HUDCO, BSE, Ashok Leyland, Gail India, Jio Financial Services, ONGC, PFC and PolicyBazaar.