New Delhi, March 3 -- Leading financial services firm Motilal Oswal Financial Services will bar its clients from taking intraday short-selling position on stocks that are not part of the futures and options (F&O) segment from Monday.

Motilal Oswal Financial Services, with 10.3 lakh clients at the end of January, is the first large brokerage to undertake such a move at a time when the markets have been battered for five straight months.

Short-selling is the practice of selling shares one doesn't own at the time of the transaction.

The development comes even as the Sebi-constituted Industry Standards Forum (ISF), comprising exchanges, brokers and other stakeholders, is seeking greater clarity on a regulatory circular on short-selling iss...