SBI Cards Sees Surge in Open Interest Amidst Strong Trading Activity
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 41,448 contracts, alongside a trading volume of 36,058 contracts. The stock achieved a new 52-week high and demonstrated strong price performance, significantly outperforming its sector, while also experiencing a surge in delivery volume.
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 41,448 contracts, up from the previous 35,125, marking a change of 6,323 contracts or an 18.0% increase. The trading volume for the day reached 36,058 contracts, indicating robust market engagement.In terms of price performance, SBI Cards hit a new 52-week high of Rs 878.8, representing a 2.28% increase for the day. The stock has shown consistent gains over the past two days, accumulating a total return of 1.88%. Notably, it has outperformed its sector, which reported a decline of 0.89%. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume on March 25 surged to 14.75 lakh shares, a remarkable increase of 125.41% compared to the 5-day average. With a market capitalization of Rs 82,891.47 crore, SBI Cards remains a significant player in the Finance/NBFC sector. Overall, the notable rise in open interest and strong price performance underscores the stock's active trading environment today.
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