Surge in Open Interest for PAYTM Signals Increased Market Engagement and Activity
One 97 Communications Ltd, trading as PAYTM, has seen a notable rise in open interest, indicating increased activity in its derivatives market. The stock has outperformed its sector and demonstrated strong trading volume, with significant delivery volume growth, highlighting robust market engagement and liquidity.
One 97 Communications Ltd, trading under the symbol PAYTM, has experienced a significant increase in open interest today, reflecting heightened activity in its derivatives market. The latest open interest stands at 69,645 contracts, up from the previous 61,297, marking a change of 8,348 contracts or a 13.62% increase. The trading volume for the day reached 85,303 contracts, indicating robust participation.In terms of price performance, PAYTM has outperformed its sector by 1.75%, with the stock gaining 5.73% over the last three days. Today, it reached an intraday high of Rs 790.8, reflecting a 3.32% increase. The stock is currently positioned above its 5-day, 20-day, 50-day, and 200-day moving averages, although it remains below the 100-day moving average.
Additionally, the delivery volume has seen a notable rise, with 16.52 lakh shares delivered on March 24, representing a 23.14% increase compared to the 5-day average. The liquidity remains favorable, with the stock accommodating a trade size of Rs 12.45 crore based on 2% of the 5-day average traded value.
In summary, the notable spurt in open interest for One 97 Communications Ltd underscores a dynamic trading environment, reflecting the stock's recent performance and market engagement.
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