Bank of India Sees Surge in Open Interest Amid Market Activity Shift
Bank of India has seen a significant rise in open interest, reaching 22,223 contracts, indicating increased activity in its futures market. The trading volume for the day was 11,564 contracts, with a total futures value of approximately Rs 32,811.88 lakhs, despite a recent decline in stock performance.
Bank of India has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 22,223 contracts, up from the previous 20,008, marking a change of 2,215 contracts or an 11.07% increase. The trading volume for the day reached 11,564 contracts, contributing to a total futures value of approximately Rs 32,811.88 lakhs.In terms of price performance, Bank of India has underperformed its sector by 0.34%, with the stock experiencing a decline of 2.2% over the last two days. The stock touched an intraday low of Rs 114.82, reflecting a decrease of 3.37% at its lowest point. Despite this, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term upward trend.
Investor participation has seen a decline, with delivery volume dropping by 24.97% compared to the 5-day average. Nevertheless, the stock remains liquid enough for trades sized at Rs 2.4 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amid recent price movements highlights a significant shift in market dynamics for Bank of India.
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