Zee Entertainment among 6 stocks on NSE’s F&O ban list for today, IRCTC out

A list of six stocks / securities has been subject to the Futures and Options (F&O) ban by the National Stock Exchange (NSE) for today (September 16, 2021). The six stocks on the F&O ban list on NSE are Escorts, Sun TV, National Aluminum Company (Nalco), SAIL, Zee Entertainment and Exide Industries. The derivative contracts on the mentioned securities have exceeded 95% of the position limit at market level and are therefore currently put on a blackout period by the stock exchange.

“It is hereby informed that all clients / members will only trade derivative contracts of said security to decrease their positions through offsetting positions,” the exchange said. “Any increase in vacancies will result in appropriate criminal and disciplinary action,” NSE added.

Indian Railway Catering and Tourism Corporation (IRCTC) is off the list. Zee Entertainment Enterprises Limited’s shares have been the center of attention in recent trading sessions after Rakesh Jhunjhunwala’s Rare Enterprises and BofA Securities Europe SA bought its shares through open market transactions.

No new position is allowed for any of the F&O contracts in that particular stock when it is under the F&O blackout period. The MWPL (market-wide position limit) is set by the stock exchanges, which corresponds to the maximum number of contracts that can be opened at any time (Open Interest). Therefore, the M&O contracts of this share enter a blackout period if the open interest crosses 95% of the MWPL.

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