Surge in Open Interest Signals Increased Trading Activity for Axis Bank Shares
Axis Bank Ltd. saw a notable rise in open interest, reaching 135,008, alongside a trading volume of 177,657, indicating active market engagement. Despite a decline in price performance, the stock remains above several moving averages, while investor participation has decreased, reflecting a dynamic trading environment.
Axis Bank Ltd. has experienced a significant increase in open interest today, with the latest open interest (OI) recorded at 135,008, up from the previous OI of 118,690. This marks a change of 16,318, representing a 13.75% increase. The trading volume for the stock reached 177,657, indicating active market participation.In terms of price performance, Axis Bank opened the day with a loss of 2.49%, reflecting a broader trend as it underperformed its sector by 3.15%. The stock touched an intraday low of Rs 1,146, which is a decline of 5.06% from the previous close. Despite this downturn, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.
Investor participation has shown signs of decline, with a delivery volume of 48.12 lakh shares on April 24, down 39.49% compared to the 5-day average. The liquidity of Axis Bank remains adequate, with a trade size of Rs 27.29 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest amidst fluctuating price performance highlights the dynamic nature of trading in Axis Bank shares today.
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