Bajaj Auto Sees 13.65% Surge in Open Interest, Reaching 87,646 Contracts
Bajaj Auto Ltd. has seen a notable rise in open interest, reaching 87,646 contracts, indicating increased trading activity. The stock has outperformed its sector and is currently above several moving averages, despite a slight decline in delivery volume. This reflects a dynamic trading environment for the company.
Bajaj Auto Ltd., a prominent player in the automobiles sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 87,646 contracts, marking a notable rise of 10,530 contracts or 13.65% from the previous open interest of 77,116. The trading volume for the day reached 74,012 contracts, contributing to a total futures value of approximately Rs 2,18,426.68 lakhs.In terms of price performance, Bajaj Auto has outperformed its sector by 0.79%, reversing a trend of four consecutive days of decline. The stock has traded within a narrow range of Rs 87, indicating a period of consolidation. Currently, it is positioned above the 20-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 5-day moving average.
Despite a slight decline in delivery volume, which fell by 3.18% against the 5-day average, the stock maintains sufficient liquidity for trades sized at Rs 5.34 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest alongside the stock's recent performance highlights a dynamic trading environment for Bajaj Auto.
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