Canara Bank Sees 10.33% Surge in Open Interest, Reaching 80,456 Contracts

Canara Bank, a prominent player in the public sector banking industry, has experienced a significant increase in open interest today. The latest open interest stands at 80,456 contracts, reflecting a rise of 7,531 contracts or 10.33% from the previous open interest of 72,925. This uptick in open interest comes alongside a trading volume of 58,684 contracts, indicating heightened activity in the stock.
In terms of price performance, Canara Bank is currently trading at Rs 122, just 2.17% shy of its 52-week high of Rs 124.55. Despite this proximity to its peak, the stock has underperformed its sector by 0.81% today, with a 1-day return of -0.55%. Notably, the stock has seen a trend reversal after four consecutive days of gains.

Canara Bank's liquidity remains robust, with a delivery volume of 2.62 crore on September 24, marking a 38.58% increase compared to the 5-day average. The bank also boasts a high dividend yield of 3.25% at the current price. Overall, the increase in open interest highlights a notable shift in market dynamics for Canara Bank, reflecting active trading engagement.