Surge in Open Interest for Axis Bank Signals Increased Trading Activity Amid Price Decline
Despite this surge in open interest, Axis Bank's stock performance has underperformed its sector, declining by 2.95% today. The stock opened with a loss of 2.49% and touched an intraday low of Rs 1,146, representing a decrease of 5.06%. The weighted average price suggests that more volume was traded closer to this low price, indicating a shift in trading dynamics.
In terms of liquidity, the stock remains accessible for trading, with a liquidity measure based on 2% of the five-day average traded value amounting to Rs 27.29 crore. Additionally, while the stock is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day moving average.
In summary, the increase in open interest for Axis Bank highlights a significant shift in trading activity, even as the stock faces challenges in its price performance today.
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