Cholamandalam Investment Sees Surge in Open Interest Amid Increased Market Activity
Cholamandalam Investment & Finance Company Ltd has seen a notable rise in open interest, reaching 31,190, alongside a trading volume of 14,889. The stock has outperformed its sector and is trading above several moving averages, indicating increased market activity despite a decline in delivery volume.
Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 31,190, up from the previous figure of 26,713, marking a change of 4,477, or 16.76%. This uptick in open interest coincides with a trading volume of 14,889, indicating heightened market engagement.In terms of performance, Cholamandalam has outperformed its sector by 0.37%, reversing a two-day decline. The stock is currently trading above its 5-day, 20-day, and 200-day moving averages, although it remains below the 50-day and 100-day moving averages. The underlying value of the stock is reported at Rs 1,521.
Despite a decrease in delivery volume, which has fallen by 37.37% compared to the 5-day average, the stock maintains sufficient liquidity for trades up to Rs 3.62 crore, based on 2% of the 5-day average traded value.
Overall, the increase in open interest for Cholamandalam Investment & Finance Company Ltd highlights a shift in market dynamics, reflecting the stock's current standing within the Non-Banking Financial Company sector.
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