Bajaj Auto Sees Significant Open Interest Surge Amid Active Market Participation
Bajaj Auto Ltd. has seen a notable rise in open interest, reaching 75,650 contracts, alongside a trading volume of 83,588 contracts. The stock has gained 3.18% over two days, currently trading above several moving averages, despite a decline in delivery volume. The company's market capitalization stands at Rs 2,24,100 crore.
Bajaj Auto Ltd., a prominent player in the Automobile Two & Three Wheelers sector, has experienced a significant increase in open interest today. The latest open interest stands at 75,650 contracts, reflecting a rise of 9,064 contracts or 13.61% from the previous open interest of 66,586. This uptick in open interest coincides with a trading volume of 83,588 contracts, indicating active participation in the market.In terms of price performance, Bajaj Auto has shown resilience, gaining 3.18% over the last two days, with a current intraday high of Rs 8,240, marking a 2.77% increase for the day. The stock's performance aligns closely with the broader sector, which has risen by 2.41%. Notably, Bajaj Auto's price is currently above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Despite a decline in delivery volume, which has fallen by 18.73% compared to the 5-day average, the stock maintains sufficient liquidity for trading, with a market capitalization of Rs 2,24,100 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for Bajaj Auto, reflecting ongoing activity in the stock.
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