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F&O Ban List: Zee under trade ban on Saturday

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Zee Entertainment Companies is under the F&O trade ban on Saturday. Futures and options contracts of any stock enter the blackout period when the open interest (OI) in it exceeds 95% of the market-wide position limits or MWPL. The ban is only canceled if open interest falls below 80%.

Individuals trading on indices do not find themselves in a security situation.

For Zee, MWPL stood at 95.7% on Friday with OI reported by Trendlyne at 127.5 million. It is up 5.6% compared to the previous session.

Today, the BSE and NSE stock exchanges decided to keep the market open despite the weekend holiday, as part of their strategy to gauge the system’s preparedness in the event of an unforeseen tragedy.

This is happening for the second time in calendar year 2024 and today’s session will not be a simulated trading session. The special session is part of the Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) framework for exchanges and depositories and would involve an intraday failover to the disaster recovery site.

On Friday, Zee shares ended at Rs 156 on the NSE, down Rs 4.95 or 3.08 per cent. This is the third consecutive loss for the counter, which has been in the news since the end of its agreement with Sony. Its losses over one year have now climbed to more than 20%. Indian benchmark indices started the March series with a bang, hitting new all-time highs triggered by banks, auto and metal stocks. While Nifty touched a lifetime high of 22,353.30 before ending at 22,338.75, up 355.95 points or 1.62%, the 30-stock S&P BSE Sensex ended with gains of 1,245 points or 1.72% to 73,745.35. Its new record now stands at 73819.21. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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