One 97 Communications Sees Surge in Open Interest Amid Increased Derivatives Activity
One 97 Communications Ltd, trading as PAYTM, has seen a significant rise in open interest, indicating increased activity in the derivatives market. The stock has outperformed its sector and is trading above key moving averages, although investor participation has declined recently. Its market capitalization stands at Rs 55,706 crore.
One 97 Communications Ltd, trading under the symbol PAYTM, has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 42,478 contracts, up from the previous 38,498, marking a change of 3,980 contracts or a percentage increase of 10.34%. The trading volume for the day reached 26,009 contracts, indicating robust participation.In terms of performance, One 97 Communications has outperformed its sector by 0.36%, with a modest one-day return of 0.18%. The stock has shown consistent gains over the past three days, accumulating a total return of 3.94% during this period. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price movement.
However, it is worth noting a decline in investor participation, as the delivery volume on April 22 fell by 42.98% compared to the 5-day average. With a market capitalization of Rs 55,706 crore, One 97 Communications remains a significant player in the Finance/NBFC sector. Overall, the increase in open interest highlights a shift in market dynamics for the stock, reflecting ongoing trading activity.
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