SBI Cards Sees Surge in Open Interest Amid Active Derivatives Trading
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 28,820 contracts, alongside a trading volume of 23,333 contracts. The stock achieved a new 52-week high, maintaining a strong market position despite a decline in delivery volume and an initial loss during the trading day.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 28,820 contracts, up from the previous 25,511, marking a change of 3,309 contracts or a 12.97% increase. The trading volume for the day reached 23,333 contracts, contributing to a futures value of approximately Rs 27,861.74 lakhs.In terms of price performance, SBI Cards hit a new 52-week high of Rs 881.7 today, outperforming its sector by 0.8%. The stock has shown a consistent upward trend, gaining for four consecutive days with a total return of 2.98% during this period. However, it opened the day with a loss of 4.65%, touching an intraday low of Rs 830.
Despite a decline in delivery volume, which fell by 53.21% against the five-day average, SBI Cards remains above its key moving averages, indicating a strong market position. The stock's liquidity is sufficient for trades up to Rs 3.05 crore, reflecting its status as a large-cap player in the Finance/NBFC industry. Overall, the notable increase in open interest underscores the stock's active trading environment.
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