Bajaj Finserv Sees Surge in Open Interest Amid Active Derivatives Trading
Bajaj Finserv Ltd has seen a notable rise in open interest, reaching 63,492 contracts, alongside a trading volume of 57,196. The stock is currently priced at Rs 2,056, nearing its 52-week high, while showing strong performance against moving averages despite a decline in delivery volume.
Bajaj Finserv Ltd, a prominent player in the holding company sector, has experienced a significant increase in open interest today. The latest open interest stands at 63,492 contracts, reflecting a rise of 7,253 contracts or 12.9% from the previous open interest of 56,239. The trading volume for the day reached 57,196, indicating robust activity in the derivatives market.In terms of price performance, Bajaj Finserv is currently trading at Rs 2,056, which is just 3.89% shy of its 52-week high of Rs 2,135. Despite this upward trajectory, the stock has underperformed its sector by 1.67% today, while the finance/NBFC sector overall has gained 2.48%. Notably, Bajaj Finserv has recorded consecutive gains over the past two days, accumulating a total return of 2.7% during this period.
The stock is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong trend. However, it is worth noting that delivery volume has decreased by 31.59% compared to the 5-day average, suggesting a decline in investor participation. Overall, the increase in open interest alongside the stock's performance metrics highlights a dynamic trading environment for Bajaj Finserv.
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