Poonawalla Fincorp Sees Surge in Open Interest Amid Increased Derivatives Activity
Poonawalla Fincorp Ltd has seen a notable rise in open interest, reaching 22,937 contracts, alongside a trading volume of 28,278 contracts, indicating active participation in the derivatives market. The stock has outperformed its sector and is trading above several moving averages, despite a decline in delivery volume.
Poonawalla Fincorp Ltd, a prominent player in the Finance/NBFC sector, has experienced a significant increase in open interest today. The latest open interest stands at 22,937 contracts, reflecting a rise of 2,150 contracts or 10.34% from the previous open interest of 20,787. The trading volume for the day reached 28,278 contracts, indicating robust activity in the derivatives market.In terms of price performance, Poonawalla Fincorp outperformed its sector by 3.32%, with the stock touching an intraday high of Rs 336.75, marking a gain of 5.83% for the day. The stock is currently trading above its 5-day, 20-day, 50-day, and 100-day moving averages, although it remains below the 200-day moving average.
Despite a notable stock performance, there has been a decline in investor participation, with delivery volume dropping by 46.9% compared to the 5-day average. The stock maintains sufficient liquidity, accommodating trade sizes of approximately Rs 1.47 crore based on 2% of the 5-day average traded value.
In summary, the notable spurt in open interest for Poonawalla Fincorp highlights increased trading activity, while the stock's performance metrics reflect its current market standing.
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