Surge in Open Interest Signals Increased Activity in Axis Bank Futures Market

Axis Bank Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 287,603 contracts, a notable rise from the previous open interest of 222,137 contracts, marking a change of 65,466 contracts or 29.47%. This surge in open interest comes alongside a trading volume of 125,181 contracts, indicating robust participation in the stock.
In terms of price performance, Axis Bank has been trading in a narrow range, with a fluctuation of Rs 8.5. The stock has faced challenges recently, having declined by 1.12% over the past three days, with a current one-day return of -0.71%. Comparatively, the sector and Sensex have also shown slight declines of -0.78% and -0.60%, respectively.

Despite these recent setbacks, Axis Bank's liquidity remains strong, with a delivery volume of 54.55 lakh shares on August 21, reflecting a 35.87% increase against the five-day average. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position. Overall, the notable rise in open interest suggests a shift in market dynamics for Axis Bank, warranting close observation.