Surge in Open Interest Signals Increased Activity in Kotak Mahindra Bank Futures Market
Kotak Mahindra Bank Ltd has seen a notable rise in open interest, reaching 135,395 contracts, alongside a trading volume of 157,800 contracts. The stock achieved a new all-time high of Rs 2,301.90 and has shown consistent gains over the past six days, highlighting strong market activity.
Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 135,395 contracts, up from the previous figure of 122,579, marking a change of 12,816 contracts or a 10.46% increase. The trading volume for the day reached 157,800 contracts, contributing to a total futures value of approximately Rs 232,558 lakhs.In terms of price performance, Kotak Mahindra Bank hit a new 52-week and all-time high of Rs 2,301.90, representing a 2.7% increase for the day. The stock has outperformed its sector by 0.91% and has shown consistent gains over the past six days, accumulating a total return of 11.24% during this period. Additionally, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
With a market capitalization of Rs 4,54,328.84 crore, Kotak Mahindra Bank remains a prominent player in the private banking sector. The liquidity of the stock is also noteworthy, with a delivery volume of 32.89 lakh shares on April 21, reflecting a 4.9% increase compared to the 5-day average delivery volume. Overall, the notable rise in open interest and robust trading metrics underscore the active engagement in Kotak Mahindra Bank's stock today.
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