Shares of Indian Energy Exchange (IEX) opened nearly 4% lower as markets opened on Wednesday.

What Happened: The company extended its losses for the second straight session on Wednesday, following the government’s reported plant to go ahead with the market coupling proposal. Additionally, the NSE has banned trading in IEX as well as four other companies, in the futures and options (F&O) segment.

On Tuesday, reports said that the Power Ministry has reaffirmed its dedication to the market coupling of power exchanges. The final decision on the implementation timeline will be made by the Central Electricity Regulatory Commission.

The Ministry plans to introduce the new mechanism either by the end of the current fiscal year or at the beginning of FY26.

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Moreover, IEX, along with Aditya Birla Fashion and Retail, Granules India, Hindustan Copper and Vodafone Idea, has been placed on NSE’s F&O ban list.

“The derivative contracts in the below mentioned security has crossed 95% of the market-wide position limit (MWPL) and are currently in the ban period,” NSE said.

The ban is reversed only when the open interest falls below 80%. On Tuesday, the MWPL for IEX stood at 111.45%, according to data from Research 360.

“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action,” the exchange added in its advisory.

Price Action: Shares of IEX were down 1.98% to ₹207.42, Aditya Birla Fashion and Retail’s shares slipped 0.46% to ₹346.50, Granules India and Hindustan Copper were trading flat at ₹565.85 and 342.20, respectively, Vodafone Idea shares went down 0.94% to ₹10.57 on Wednesday.

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