Canara Bank Sees Significant Surge in Open Interest Amidst Trading Activity
Canara Bank has seen a significant rise in open interest, reaching 64,788 contracts, indicating increased trading activity. The stock has underperformed its sector, declining for four consecutive days. Despite this, it maintains a market capitalization of Rs 97,373 crore and a dividend yield of 3.67%.
Canara Bank has experienced a notable increase in open interest (OI) today, signaling heightened activity in its trading. The latest OI stands at 64,788 contracts, reflecting a rise of 6,000 contracts or 10.21% from the previous OI of 58,788. The trading volume for the day reached 30,839 contracts, contributing to a total futures value of approximately Rs 107,898 lakhs and an options value of Rs 12,025 crore, culminating in a total value of Rs 109,889 lakhs.In terms of price performance, Canara Bank's stock has underperformed its sector by 1.14%, marking a decline of 1.95% for the day. The stock has been on a downward trend, losing value for four consecutive days, with a total drop of 5.17% during this period. The intraday low was recorded at Rs 106.35, down 2.27% from the previous close. While the stock is currently above its 200-day moving average, it remains below the 5-day, 20-day, 50-day, and 100-day moving averages.
With a market capitalization of Rs 97,373 crore, Canara Bank continues to maintain a high dividend yield of 3.67% at the current price, indicating its position within the public sector banking industry. Overall, the increase in open interest highlights a significant shift in trading dynamics for Canara Bank, reflecting the ongoing market activity.
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