Surge in Open Interest Signals Increased Trading Activity for Bandhan Bank Ltd.
Bandhan Bank Ltd. has seen a notable rise in open interest, reaching 58,629 contracts, alongside a trading volume of 62,687 contracts. Despite recent price declines, the stock remains above several moving averages, although delivery volume has decreased, indicating shifting investor engagement in the market.
Bandhan Bank Ltd. has experienced a significant increase in open interest today, reflecting notable activity in its trading. The latest open interest stands at 58,629 contracts, up from the previous 51,267, marking a change of 7,362 contracts or a 14.36% increase. The trading volume for the day reached 62,687 contracts, indicating robust engagement in the market.In terms of price performance, Bandhan Bank has underperformed its sector by 2.26%, with the stock experiencing a consecutive decline over the past two days, resulting in a total drop of 3.62%. The stock reached an intraday high of Rs 173.43, reflecting a gain of 4.72%, while it also touched a low of Rs 161.15, down by 2.7%. The weighted average price suggests that more volume was traded closer to the lower price point.
Despite the recent downturn, the stock remains above its 20-day, 50-day, and 100-day moving averages, although it is below its 5-day and 200-day moving averages. Additionally, delivery volume has decreased by 32.18% compared to the five-day average, indicating a decline in investor participation. Overall, the increase in open interest amid fluctuating prices highlights the dynamic trading environment surrounding Bandhan Bank.
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