Bajaj Finance Sees 13.68% Surge in Open Interest to 196,650 Contracts
Bajaj Finance Ltd has seen a notable increase in open interest, reaching 196,650 contracts, alongside a trading volume of 134,682 contracts. Despite this activity, the stock has underperformed its sector, experiencing a decline and consecutive losses over the past two days, while maintaining a strong market capitalization.
Bajaj Finance Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 196,650 contracts, marking a rise of 23,666 contracts or 13.68% from the previous open interest of 172,984. This uptick in open interest comes alongside a trading volume of 134,682 contracts, indicating heightened activity in the stock.Despite this surge in open interest, Bajaj Finance has underperformed its sector, with a 1.44% decline today. The stock has faced consecutive losses over the past two days, accumulating a total drop of 4.6%. During today's trading session, the stock reached an intraday low of Rs 981.35, reflecting a decrease of 3.1%.
In terms of moving averages, the stock is currently above the 20-day, 50-day, 100-day, and 200-day moving averages, yet it remains below the 5-day moving average. Notably, delivery volume has surged to 1.21 crore on September 25, representing a 167.21% increase compared to the 5-day average. With a market capitalization of Rs 6,12,478.89 crore, Bajaj Finance continues to maintain a liquid trading environment, suitable for transactions of Rs 19.13 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest highlights a shift in market dynamics for Bajaj Finance.
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