Bajaj Finserv Sees 13.57% Surge in Open Interest to 74,833 Contracts

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 74,833 contracts, marking an increase of 8,941 contracts or 13.57% from the previous OI of 65,892. This uptick in OI comes alongside a trading volume of 47,633 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Bajaj Finserv is currently trading just 2.86% below its 52-week high of Rs 2,195. Despite this proximity to its peak, the stock has faced a slight decline of 1.67% over the past two days, with a 1D return of -0.46%, while the sector has seen a marginal decline of 0.36%. The stock has been trading within a narrow range of Rs 19.8, and its current price is above the 20-day, 50-day, 100-day, and 200-day moving averages, although it is below the 5-day moving average.

Additionally, the delivery volume on October 28 reached 4.82 lakh shares, reflecting an increase of 8.55% compared to the 5-day average. With a market capitalization of Rs 3,40,382.15 crore, Bajaj Finserv remains a liquid stock, suitable for trades around Rs 3.45 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 Finserv, warranting attention from market participants.