Description
NSE Clearing Limited announces applicable market-wide position limits, trading member limits, FII/FPI and mutual fund limits for 8 newly introduced individual securities, effective April 1, 2026.
Summary
NSE Clearing Limited (Circular Ref. No. 38/2026, Download Ref No: NCL/CMPT/73542) has specified the applicable Market-Wide Position Limits (MWPL), trading member-wise position limits, FII/FPI (Category I & II), and Mutual Fund position limits for 8 individual securities being introduced in the Futures & Options segment. These limits are effective from the trade date April 1, 2026, issued in pursuance to circular no. 043/2025 (NCL/CMPT/67750) dated April 29, 2025, and in partial modification of circular no. 34/2026 (NCL/CMPT/73404) dated March 20, 2026.
Key Points
- Eight securities — ADANIPOWER, COCHINSHIP, HYUNDAI, FORCEMOT, GODFRYPHLP, MOTILALOFS, NAM-INDIA, and VMM — are being introduced in the F&O segment.
- Market-Wide Position Limits (MWPL), overall stock limits for clients and proprietary accounts, TM-level limits, FPI Category I & MF limits, and FPI Category II limits have been defined for each security.
- All limits are expressed in number of shares.
- The circular partially modifies the earlier circular NCL/CMPT/73404 dated March 20, 2026.
Regulatory Changes
Partial modification of circular no. 34/2026 (NCL/CMPT/73404) dated March 20, 2026. Position limits for the 8 securities are now formally established as per the framework set out in circular 043/2025.
Compliance Requirements
- Trading Members must ensure client and proprietary positions in these securities do not exceed the prescribed limits from April 1, 2026.
- FIIs/FPIs (Category I & II) and Mutual Funds must adhere to their respective stock-level position limits.
- All members are advised to take note and update their risk and position monitoring systems accordingly.
Important Dates
- Effective Date: April 1, 2026 (trade date)
- Circular Date: March 30, 2026
Impact Assessment
| Symbol | MWPL (Shares) | Client Limit (Shares) | Proprietary Limit (Shares) | TM Limit (Shares) | FPI Cat I & MF (Shares) | FPI Cat II (Shares) |
|---|---|---|---|---|---|---|
| ADANIPOWER | 482,906,787 | 48,290,650 | 96,581,300 | 144,871,950 | 96,581,300 | 48,290,650 |
| COCHINSHIP | 12,661,431 | 1,266,000 | 2,532,000 | 3,798,400 | 2,532,000 | 1,266,000 |
| HYUNDAI | 21,329,205 | 2,132,900 | 4,265,800 | 6,398,700 | 4,265,800 | 2,132,900 |
| FORCEMOT | 736,885 | 73,675 | 147,375 | 221,050 | 147,375 | 73,675 |
| GODFRYPHLP | 6,329,596 | 632,775 | 1,265,825 | 1,898,875 | 1,265,825 | 632,775 |
| MOTILALOFS | 29,196,111 | 2,919,425 | 5,838,850 | 8,758,275 | 5,838,850 | 2,919,425 |
| NAM-INDIA | 26,709,548 | 2,670,625 | 5,341,875 | 8,012,500 | 5,341,875 | 2,670,625 |
| VMM | 321,828,727 | 32,179,750 | 64,364,350 | 96,544,100 | 64,364,350 | 32,179,750 |
The introduction of these 8 securities in the F&O segment expands derivative trading opportunities. ADANIPOWER and VMM carry the largest MWPLs, indicating significant free-float availability, while FORCEMOT has the tightest limits reflecting a smaller float. Participants must recalibrate position monitoring systems before the April 1, 2026 effective date.
Impact Justification
Directly affects trading limits for 8 securities in the F&O segment effective April 1, 2026; critical for trading members, FIIs/FPIs, and mutual funds to calibrate their position sizes.