Canara Bank Sees Surge in Open Interest Amid Active Trading Environment

Canara Bank has experienced a significant increase in open interest today, reflecting notable activity in its trading. The latest open interest stands at 59,591 contracts, up from the previous figure of 53,345, marking a change of 6,246 contracts or an 11.71% increase. The trading volume for the day reached 43,300 contracts, contributing to a futures value of approximately Rs 60,918.59 lakhs.
In terms of price performance, Canara Bank's stock has underperformed its sector by 1.65%, with a 1-day return of -2.49%. Over the past three days, the stock has seen a decline of 4.38%. Today, it touched an intraday low of Rs 111.7, reflecting a decrease of 2.4%. While the stock is currently above its 50-day, 100-day, and 200-day moving averages, it remains below its 5-day and 20-day moving averages.

Additionally, the stock has a high dividend yield of 3.5% at the current price, and liquidity remains adequate for trading, with a delivery volume of 96.61 lacs, which has decreased by 22.67% compared to the 5-day average. Overall, the increase in open interest alongside the current trading metrics highlights a dynamic trading environment for Canara Bank.