SAIL and Zee entered the ban list last week, and Bandhan Bank on Monday.
The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%.
Traders who trade in indices do not encounter a situation of security ban.
The MWPL for Bandhan Bank stood at 84.3% on Monday with OI reported by Trendlyne at 100.5 million. It was down by 14.7% from the previous session.
Shares of Bandhan Bank plunged over 9% to hit the day’s low of Rs 179.25 on the NSE following the news of the retirement of the company’s Managing Director and Chief Executive Officer Chandra Shekhar Ghosh. The stock closed the session at Rs 185.10, lower by Rs 12.25 or 6.21%.The MWPL for SAIL stood at 93.1% with OI reported by Trendlyne at 152 million. It was down 1.4% from the previous session. SAIL shares closed at Rs 145.55 on the NSE, down by Rs 0.65 or 0.44%.The MWPL for Zee stood at 95.5% with OI reported by Trendlyne at 142.2 million. It was down 0.8% from the previous session. Zee shares ended at Rs 150.20 on the NSE on Monday, falling by Rs 2.15 or 1.41%.
Hindustan Copper which exited the ban reported MWPL of 76.1% on Monday with OI reported by Trendlyne at 25.4 million. It was down by 4.7% from the previous session. Hindustan Copper shares ended at Rs 330.55 on the NSE on Monday, up by Rs 8.55 or 2.53% over the previous closing price.
Indian benchmark indices settled on a strong note on Monday as both S&P BSE Sensex and Nifty hit their new lifetime highs amid strong buying action in auto, energy and metal stocks. While the Sensex hit a fresh lifetime high of 74,869.3 before ending the session at 74,742.50, up by 494.28 points 0.67% the broader Nifty scaled 22,697.30 before closing at 22,660.95, up by 152.60 points or 0.68%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)