Axis Bank Sees 13.62% Surge in Open Interest, Reaching 248,473 Contracts

Axis Bank Ltd. has experienced a notable increase in open interest (OI) today, reflecting heightened trading activity in the stock. The latest OI stands at 248,473 contracts, up from the previous OI of 218,685, marking a significant change of 29,788 contracts or 13.62%. The trading volume for the day reached 158,866, contributing to a futures value of approximately Rs 544,099.44 lakhs. The options value is reported at a substantial Rs 70,073,222.587 lakhs, bringing the total value to Rs 548,381.11 lakhs.
In terms of price performance, Axis Bank is currently trading close to its 52-week high, just 2.67% away from Rs 1,276.1. However, the stock has underperformed its sector by 0.32% today, with a 1D return of -1.33%. Despite this, it remains above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over the longer term. Additionally, the delivery volume has surged to 96.55 lakhs, reflecting a 93.59% increase compared to the 5-day average, suggesting robust liquidity in the stock.

In summary, the increase in open interest alongside significant trading volume highlights a dynamic trading environment for Axis Bank, while its price performance remains a focal point for market observers.