Bajaj Auto Sees 15.19% Surge in Open Interest to 70,797 Contracts

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 70,797 contracts, reflecting a rise of 9,337 contracts or 15.19% from the previous open interest of 61,460. This uptick in open interest comes alongside a trading volume of 64,565 contracts, indicating active market participation.
In terms of price performance, Bajaj Auto has underperformed its sector by 0.34%, with a 1D return of -0.55%. The stock has been on a downward trend, recording losses for the past two days, amounting to a total decline of 1.07% during this period. Notably, the stock's price is currently above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day moving averages.

Investor participation appears to be waning, as evidenced by a delivery volume of 1.46 lakh shares on September 30, which has decreased by 24.27% compared to the 5-day average. With a market capitalization of Rs 2,41,013.28 crore, Bajaj Auto remains a significant entity in the large-cap segment of the market. Overall, the increase in open interest highlights a notable shift in trading activity, reflecting the current dynamics surrounding the stock.