NSE F&O BAN PERIOD · UPDATED DAILY
F&O ban list today
For trade date , NSE lists 4 securities in the F&O ban period. Sourced from the exchange's published ban file; only position-reducing derivative trades are permitted in these names until they exit the ban.
| # | Symbol | OI % of MWPL | MWPL (shares) | Gale research |
|---|---|---|---|---|
| 1 | BANDHANBNKBANDHAN BANK LIMITED | 89.8% | 14.74 cr | Not covered |
| 2 | LICILIFE INSURA CORP OF INDIA | 81.7% | 6.64 cr | Not covered |
| 3 | MANAPPURAMMANAPPURAM FINANCE LTD | 88.5% | 8.22 cr | Not covered |
| 4 | SAILSTEEL AUTHORITY OF INDIA | 89.8% | 21.69 cr | Not covered |
Utilization = futures-equivalent open interest ÷ market-wide position limit, from NSE's MWPL file for 2026-08-17. A banned stock exits once utilization falls below 80%.
Approaching the ban threshold
These stocks are not in the ban, but their open interest already uses more than 80% of the market-wide position limit — crossing 95% would put them in the next session's list. This is a description of current crowding from NSE's MWPL file, not a prediction: utilization can just as easily cool as climb.
| Symbol | OI % of MWPL | MWPL (shares) | Gale research |
|---|---|---|---|
| INOXWINDINOX WIND LIMITED | 85.9% | 14.47 cr | Not covered |
| KAYNESKAYNES TECHNOLOGY IND LTD | 82.0% | 0.47 cr | Read the research → |
| LICHSGFINLIC HOUSING FINANCE LTD | 81.4% | 4.52 cr | Not covered |
What the ban period actually is
Every stock in the derivatives segment has a market-wide position limit (MWPL) — a cap on the total open interest all participants may hold across its futures and options, set by the exchange from the stock's free-float. When combined open interest crosses 95% of that cap, the exchange moves the stock into the ban period: existing positions may be closed, but new ones may not be opened, and violations attract penalties levied per offending position. The stock exits the ban once open interest cools below 80% of MWPL.
The list is therefore a crowding gauge, not a verdict on the company. Names with active derivative interest move in and out routinely, and the cash market in those shares trades completely normally throughout.
What a ban means for positions you already hold
Nothing is force-closed. A trader holding futures or options in a banned stock may square off freely — reducing exposure is exactly what the mechanism wants — but may not add. That restriction has a subtle edge: rolling a position from the near month to the next month counts as opening a new position in the far contract, so rollovers effectively pause while the ban lasts. Traders carrying near-expiry positions in a banned name face a narrower set of choices than usual: close, or ride into settlement.
Bans also change how the option book behaves. With no new positions permitted, open interest can only fall, spreads often widen as market-makers step back, and premiums can move oddly relative to the cash price. None of that is a signal about the business — it is the plumbing of a crowded trade being decongested.
How long do stocks stay in the ban?
As long as open interest takes to fall from 95% back below 80% of MWPL — typically a few sessions, occasionally weeks for names where a large position unwinds slowly. Some heavily traded mid-caps enter and exit repeatedly in the same series, which is why this page shows what entered and exited against the previous session: persistence in the list is itself information about how crowded a name remains.
Ban-list questions
What is the F&O ban period?
A stock enters the ban period when the combined open interest across all its derivative contracts crosses 95% of the market-wide position limit (MWPL). While in ban, traders may only reduce existing positions; opening new positions attracts penalties. The stock exits the ban once open interest falls below 80% of MWPL.
Can I roll over a position in a banned stock?
Not while the ban lasts — a rollover opens a new position in the next contract month, which is exactly what the ban prohibits. You can square off the near-month position, or hold it toward settlement.
Where does this list come from?
From NSE’s published security-ban file, which the exchange releases each evening for the next trading session. This page refreshes from that file automatically and shows the trade date it applies to.
Can I trade a stock that is in the F&O ban?
The cash (equity) segment is unaffected — buying and selling shares continues normally. In the derivatives segment, only position-reducing trades are permitted while the ban lasts.
When is this list updated?
NSE publishes the ban list for the next trading session after market close. This page refreshes each evening from that published file; the exact trade date it applies to is shown above the table.
Does a ban mean something is wrong with the company?
No. The ban is a market-plumbing mechanism about derivative position limits, not a comment on the business. Heavily traded mid-cap names move in and out of the ban list routinely.