Axis Bank Sees Surge in Open Interest Amid Increased Trading Activity
Axis Bank Ltd. has seen a significant rise in open interest, indicating increased trading activity, with current figures at 183,531 contracts. The stock has underperformed its sector and experienced a decline after a series of gains, yet remains above several moving averages. Delivery volume has also surged notably.
Axis Bank Ltd. has experienced a notable increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 183,531 contracts, up from the previous figure of 165,784, marking a change of 17,747 contracts or a 10.7% increase. The trading volume for the day reached 143,988 contracts, indicating robust participation in the market.In terms of price performance, Axis Bank has underperformed its sector by 1.24%, with the stock experiencing a decline after seven consecutive days of gains. The stock touched an intraday low of Rs 1,089.05, representing a decrease of 2.64%. Despite this dip, the stock remains above its 5-day, 20-day, 50-day, and 100-day moving averages, although it is below the 200-day moving average.
Additionally, the delivery volume has seen a significant rise, with 78.1 lakh shares delivered on March 25, an increase of 80.81% compared to the 5-day average. With a market capitalization of Rs 3,38,856.88 crore, Axis Bank continues to maintain a liquid trading environment, suitable for transactions of Rs 15.67 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Axis Bank, reflecting ongoing investor engagement.
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