Axis Bank Sees 11.72% Surge in Open Interest Amid Increased Trading Activity

Axis Bank Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 244,313 contracts, up from the previous figure of 218,685, marking a change of 25,628 contracts or an 11.72% increase. This surge in open interest coincides with a trading volume of 140,466 contracts, indicating robust market engagement.
In terms of price performance, Axis Bank is currently trading close to its 52-week high, just 2.82% away from Rs 1,276.1. However, the stock has underperformed its sector by 0.43% today, with a 1D return of -1.41%. Notably, the stock has seen a trend reversal after five consecutive days of gains. Despite this, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend.

Additionally, the delivery volume on October 23 reached 96.55 lakh shares, a substantial increase of 93.59% compared to the 5-day average. With a market capitalization of Rs 3,89,439 crore, Axis Bank continues to maintain a liquid trading environment, suitable for transactions of Rs 24.43 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest highlights increased trading activity in Axis Bank, reflecting the stock's current market dynamics.