Zee Entertainment Faces F&O Ban Due to High Open Interest 

Zee Entertainment Enterprises faces an F&O trading ban on Wednesday due to its open interest exceeding 95% of the market-wide position limit, which will be lifted if the open interest drops below 80%.

Zee Entertainment Enterprises is the sole stock facing a trading ban on Wednesday under the Future & Options (F&O) segment. This ban is imposed when the open interest (OI) in stock surpasses 95% of the market-wide position limit (MWPL). The restriction is lifted only if the OI falls below 80%.

Traders dealing exclusively with indices are not affected by this security ban. On Tuesday, Zee Entertainment’s market-wide position limit (MWPL) stood at 90.9%, with the open interest (OI) reported at 137.5 million, marking an 11.3% decline from the previous session. This triggered the F&O ban for the stock on Wednesday.

The Indian stock market witnessed a significant downturn as the BJP’s projected seat count fell short of expectations, despite being poised for victory. After hitting new highs of 23,338 and 76,738 respectively, the Nifty and Sensex indices experienced a sharp decline on the charts.

During the trading session, the Sensex plummeted by up to 6,234 points, while the Nifty witnessed an erosion of nearly 2,000 points from its intraday peak. On the Bombay Stock Exchange (BSE), over 3,400 stocks declined, with 745 hitting the lower circuit limit and 353 touching 52-week low levels.

The Nifty closed 5.93% or 1,379.40 points lower at 21,884, while the 30-component Sensex closed at 72,079.05, down by 5.74% or 4,389.73 points. The market’s reaction was a direct response to the BJP’s projected seat count being lower than anticipated, despite securing a victory.

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