Bajaj Finserv Sees Significant Open Interest Surge Amid Increased Trading Activity
Bajaj Finserv Ltd has seen a notable rise in open interest, reaching 43,734 contracts, alongside increased trading activity with a volume of 31,955 contracts. Despite a decline in stock price, investor participation has risen, indicating a shift in market dynamics for the company.
Bajaj Finserv Ltd, a prominent player in the holding company sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 43,734 contracts, reflecting a rise of 4,895 contracts or 12.6% from the previous OI of 38,839. This uptick in OI comes alongside a trading volume of 31,955 contracts, indicating heightened activity in the stock.In terms of price performance, Bajaj Finserv has underperformed its sector by 0.95%, with the stock experiencing a decline of 1.73% on the day. The stock reached an intraday low of Rs 1,980, marking a decrease of 2.41%. Despite this, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 8.02 lakh shares on June 2, which is up by 25.15% compared to the 5-day average delivery volume. With a market capitalization of Rs 3,18,587.98 crore, Bajaj Finserv continues to maintain a liquid trading environment, suitable for transactions of Rs 5.05 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Bajaj Finserv.
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