SBI Cards Sees Surge in Open Interest Amid Dynamic Trading Environment
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 28,365 contracts, indicating increased trading activity. The stock is close to its 52-week high and has shown resilience despite recent fluctuations. However, investor participation has declined, with delivery volume significantly lower than average.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 28,365 contracts, marking an increase of 2,854 contracts or 11.19% from the previous open interest of 25,511. The trading volume for the day reached 18,174 contracts, contributing to a futures value of approximately Rs 21,550.40 lakhs.In terms of price performance, SBI Cards is currently trading just 0.11% away from its 52-week high of Rs 878.80. The stock has shown resilience, outperforming its sector by 0.72% today, despite opening with a loss of 4.65% and touching an intraday low of Rs 830. Over the past four days, the stock has gained 2.73%. Notably, SBI Cards is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong trend.
However, there has been a decline in investor participation, with delivery volume dropping by 53.21% compared to the 5-day average. The stock remains liquid enough for trades sized at Rs 3.05 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for SBI Cards amid fluctuating market conditions.
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