Shares of YES Bank NSE 1.91 Percent came out of Futures & Options ban on Tuesday after open interest across exchanges fell below the market-wide position limit.
The stock was banned from trading in the futures segment recently after the combined open interest in its derivatives contract crossed 95 % of the market-wide position limit.
The open interest refers to all outstanding buy and sells positions in the security or futures, and options contracts.
The idea of the stocks ban in F&O is to prevent excessive speculative activity. It is worth noting that when F&O ban is imposed on a stock, and no new positions are taken, the stock price will continue to remain depressed until the ban is removed, according to Sources.
Shares of the lender were trading 1.51 % ⇑ at Rs 50.40 in the early trade. The scrip touched intraday high of Rs 51.20, ⇑ 3.12 % against the previous close.
The scrip declined over 3 % yesterday despite reports that European entities have shown interest in investing ⇑ to $1 billion in the bank.
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