Axis Bank Sees Surge in Open Interest Amidst Bearish Trading Sentiment
Axis Bank Ltd. has seen a notable rise in open interest, reaching 243,388 contracts, alongside a trading volume of 86,301 contracts, indicating active derivatives market participation. Despite this, the stock has underperformed its sector and is trading below key moving averages, reflecting bearish sentiment among traders.
Axis Bank Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 243,388 contracts, up from the previous OI of 220,844 contracts. This marks a change of 22,544 contracts, reflecting a percentage increase of 10.21%. The trading volume for the stock reached 86,301 contracts, indicating active participation in the derivatives market.In terms of price performance, Axis Bank has underperformed its sector by 0.42%, continuing a downward trend with a 2.5% decline over the past five days. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish sentiment among traders. Additionally, the delivery volume has seen a notable decrease, falling by 47.6% compared to the 5-day average, which indicates a decline in investor participation.
With a market capitalization of Rs 3,28,661 crore, Axis Bank remains a significant player in the private sector banking industry. The latest data highlights a notable shift in open interest, reflecting changing dynamics in the stock's trading activity.
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