Canara Bank Sees Surge in Open Interest Amid Increased Trading Activity
Canara Bank has seen a notable rise in open interest, reaching 87,384 contracts, alongside a trading volume of 50,349 contracts, indicating increased market activity. The stock has rebounded after previous declines, currently trading above certain moving averages, while maintaining a strong dividend yield and significant market capitalization.
Canara Bank has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 87,384 contracts, marking an increase of 8,405 contracts or 10.64% from the previous open interest of 78,979. The trading volume for the day reached 50,349 contracts, indicating robust participation in the market.In terms of price performance, Canara Bank's stock has shown a positive trend after two consecutive days of decline. The stock touched an intraday high of Rs 89.75, representing a gain of 2.88% for the day. Currently, the stock is trading above its 5-day and 20-day moving averages, although it remains below the 50-day, 100-day, and 200-day moving averages.
Despite a decline in delivery volume, which fell by 25.7% compared to the 5-day average, the stock maintains a high dividend yield of 3.69%. With a market capitalization of Rs 79,867.08 crore, Canara Bank continues to hold a significant position within the public banking sector. Overall, the increase in open interest and the stock's recent performance highlight notable activity in Canara Bank's trading landscape.
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