Bajaj Auto Sees 12.57% Surge in Open Interest Amid Increased Futures Activity

Bajaj Auto Ltd., a prominent player in the automobiles sector, has experienced a significant increase in open interest today. The latest open interest stands at 69,185 contracts, reflecting a rise of 7,725 contracts or 12.57% from the previous open interest of 61,460. This uptick in open interest comes alongside a trading volume of 56,442 contracts, indicating active participation in the derivatives market.
In terms of price performance, Bajaj Auto has underperformed its sector by 0.35%, with a 1D return of -0.52%. The stock has been on a downward trend, recording a consecutive decline over the past two days, resulting in a total drop of 0.99% during this period. Notably, the stock's current price is above its 100-day and 200-day moving averages, yet it remains below the 5-day, 20-day, and 50-day moving averages.

Additionally, the stock has seen a decrease in delivery volume, which fell by 24.27% compared to the 5-day average, suggesting a decline in investor participation. With a market capitalization of Rs 2,41,083.09 crore, Bajaj Auto continues to maintain a solid position in the large-cap segment of the market. Overall, the notable increase in open interest highlights a shift in market dynamics for Bajaj Auto, warranting attention from market participants.