Axis Bank Sees 11.37% Surge in Open Interest, Reaching 185,069 Contracts

Axis Bank Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 185,069 contracts, up from the previous figure of 166,181, marking a change of 18,888 contracts or an 11.37% increase. This surge in open interest coincides with a trading volume of 128,802 contracts, indicating robust market engagement.
In terms of price performance, Axis Bank has outperformed its sector by 0.84%, recovering after three consecutive days of decline. The stock reached an intraday high of Rs 1,164.8, representing a gain of 2.93% for the day. Notably, Axis Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a positive trend in its price trajectory.

Despite this upward movement, there has been a decline in investor participation, with delivery volume dropping by 35.16% compared to the 5-day average. The liquidity remains adequate, with the stock being liquid enough for a trade size of Rs 19.64 crore based on 2% of the 5-day average traded value.

In summary, the notable increase in open interest for Axis Bank highlights a shift in market dynamics, while the stock's recent performance indicates a potential recovery phase amidst fluctuating investor engagement.