Canara Bank Sees Surge in Open Interest Amid Increased Trading Activity

Canara Bank has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 64,891 contracts, up from the previous figure of 57,847, marking a change of 7,044 contracts or a percentage increase of 12.18%. The trading volume for the day reached 26,697 contracts, contributing to a total futures value of approximately Rs 111.59 lakhs and an options value of around Rs 8,959.59 lakhs, bringing the total to Rs 112,970.43 lakhs.
In terms of price performance, Canara Bank has underperformed its sector by 0.56%, with a 1-day return of -0.48%. The stock has been on a downward trend, experiencing a consecutive fall over the last three days, resulting in a total decline of 2.54% during this period. While the stock is currently trading above its 20-day, 100-day, and 200-day moving averages, it remains below its 5-day and 50-day moving averages.

Additionally, the stock boasts a high dividend yield of 3.64% at its current price, and liquidity remains robust, with a trading capacity sufficient for a trade size of Rs 3.62 crore. Overall, the increase in open interest alongside the current trading metrics highlights a significant moment for Canara Bank in the market.