ICICI Bank Sees Surge in Open Interest Amid Increased Trading Activity
ICICI Bank Ltd. has seen a notable rise in open interest, reaching 252,901 contracts, indicating increased trading activity. The stock is trading at Rs 1,345, close to its 52-week high, despite a decline in delivery volume. This shift reflects changing market dynamics for the bank.
ICICI Bank Ltd., a prominent player in the private banking sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 252,901 contracts, marking a rise of 23,212 contracts or 10.11% from the previous open interest of 229,689. The trading volume for the day reached 90,404 contracts, contributing to a total futures value of approximately Rs 428.69 lakhs.In terms of price performance, ICICI Bank is currently trading at Rs 1,345, just 2.15% shy of its 52-week high of Rs 1,373. Despite this positive price movement, the stock underperformed its sector by 0.31% today. Notably, after two consecutive days of decline, the stock has shown signs of a trend reversal, gaining 0.68% in today's session.
However, investor participation appears to be waning, with delivery volume dropping by 60.89% compared to the five-day average. ICICI Bank remains liquid, with a trade size capacity of Rs 58.71 crore based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for ICICI Bank, underscoring the stock's current trading landscape.
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