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 28,623 contracts today. The trading volume hit 36,980 contracts, with a futures value of approximately Rs 67,764.11 lakhs. Despite recent price declines, delivery volume has increased, indicating heightened market activity.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 28,623 contracts, up from the previous 23,944 contracts, marking a change of 4,679 contracts or a 19.54% increase. The trading volume for the day reached 36,980 contracts, contributing to a futures value of approximately Rs 67,764.11 lakhs.In terms of price performance, SBICARD has underperformed its sector by 4.13%, opening the day with a loss of 5.56%. The stock touched an intraday low of Rs 861.3, representing a decline of 7.04%. Despite this downturn, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages.
The finance/NBFC sector has also seen a decline of 2.66%. Notably, delivery volume has increased by 10.23% compared to the 5-day average, indicating rising participation. Overall, the increase in open interest alongside the stock's current performance metrics highlights a dynamic trading environment for SBI Cards & Payment Services.
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