Canara Bank Sees Surge in Open Interest Amidst Active Trading Environment
Canara Bank has seen a notable rise in open interest, reaching 77,765 contracts, alongside a trading volume of 87,376 contracts. The stock has outperformed its sector, gaining for six consecutive days and achieving a total return of 14.42%. It is currently trading above key moving averages, indicating strong market activity.
Canara Bank has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 77,765 contracts, marking an increase of 8,167 contracts or 11.73% from the previous open interest of 69,598. The trading volume for the day reached 87,376 contracts, indicating robust participation in the market.In terms of price performance, Canara Bank has outperformed its sector by 0.83%, with the stock gaining for six consecutive days and achieving a total return of 14.42% during this period. The stock reached an intraday high of Rs 102.63, representing a 3.67% increase for the day. Additionally, Canara Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
The stock also boasts a high dividend yield of 3.25% at the current price, and its liquidity remains favorable, with a trading capacity of Rs 4.53 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest alongside positive price movements underscores the active trading environment surrounding Canara Bank.
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