Canara Bank Sees Surge in Open Interest, Indicating Increased Trading Activity
Canara Bank has seen a notable rise in open interest, reaching 56,629 contracts, alongside a trading volume of 56,915 contracts, indicating increased market activity. The stock has outperformed its sector and is trading above key moving averages, reflecting positive investor engagement and liquidity.
Canara Bank has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 56,629 contracts, up from the previous figure of 50,355, marking a change of 6,274 contracts or a 12.46% increase. The trading volume for the day reached 56,915 contracts, indicating robust market engagement.In terms of price performance, Canara Bank has outperformed its sector by 1.22%, with the stock hitting an intraday high of Rs 115, representing a 3.86% increase. The weighted average price suggests that more volume was traded closer to the lower end of the price range. Notably, Canara Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its price trajectory.
Additionally, the stock has shown rising investor participation, with a delivery volume of 1.82 crore on May 29, which is 73.18% higher than the 5-day average delivery volume. With a market capitalization of Rs 99,986 crore, Canara Bank continues to demonstrate liquidity, supporting a trade size of Rs 5.17 crore based on 2% of the 5-day average traded value. Overall, the notable spurt in open interest highlights increased trading activity in Canara Bank, reflecting current market dynamics.
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