Bank of India Sees Significant Open Interest Surge Amid Increased Derivatives Activity

Bank of India, a prominent player in the public sector banking industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 16,862, marking a rise of 2,068 from the previous OI of 14,794, which translates to a percentage change of 13.98%. This uptick in OI coincides with a trading volume of 10,053, indicating heightened activity in the derivatives market.
In terms of price performance, Bank of India has underperformed its sector by 0.59% today, despite showing a positive trend over the past five days with a cumulative return of 3.77%. The stock is currently trading above its 5-day, 100-day, and 200-day moving averages, although it remains below its 20-day and 50-day moving averages. Notably, the stock has a high dividend yield of 3.42% at the current price, reflecting its potential for income generation.

The liquidity of Bank of India remains robust, with a trading capacity sufficient for a trade size of Rs 2.37 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Bank of India, underscoring the stock's current trading activity and performance metrics.