Surge in Open Interest for Bandhan Bank Signals Shift in Trading Dynamics
Bandhan Bank Ltd. has seen a significant rise in open interest, reaching 57,502 contracts, alongside a trading volume of 43,444 contracts. Despite this increase, the stock has underperformed its sector and experienced a decline in delivery volume, indicating a shift in trading dynamics within the private banking sector.
Bandhan Bank Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 57,502 contracts, up from the previous figure of 51,267, marking a change of 6,235 contracts or a percentage increase of 12.16%. The trading volume for the day reached 43,444 contracts, contributing to a futures value of approximately Rs 60,680.80 lakhs.In terms of price performance, Bandhan Bank has underperformed its sector by 1.2%, with the stock declining by 1.82% over the last two days. Today, it reached an intraday high of Rs 173.43, reflecting a 4.72% increase at one point during the trading session. The weighted average price indicates that more volume was traded closer to the lower end of the price range.
Despite the increase in open interest, the stock has seen a decline in delivery volume, which fell by 32.18% compared to the five-day average. Bandhan Bank, with a market capitalization of Rs 26,597.14 crore, remains a significant player in the private banking sector. Overall, the increase in open interest suggests a shift in trading dynamics, warranting attention from market participants.
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