Cholamandalam Investment Sees Surge in Open Interest Amid Ongoing Market Challenges

Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) has experienced a significant increase in open interest today, reflecting notable trading activity in the stock. The latest open interest stands at 29,232 contracts, up from the previous open interest of 23,463, marking a change of 5,769 contracts or a percentage increase of 24.59%. The trading volume for the day reached 26,324 contracts, contributing to a futures value of approximately Rs 59,406.33 lakhs. Despite this surge in open interest, the stock has underperformed its sector, declining by 3.9% today. Over the past six days, CHOLAFIN has faced consecutive losses, with a total decline of 9.5%. The stock touched an intraday low of Rs 1,503, reflecting a decrease of 4.04% during the trading session. In terms of moving averages, the stock is currently above its 100-day and 200-day moving averages but below its 5-day, 20-day, and 50-day averages. Additionally, delivery volume has decreased significantly, falling by 43.23% compared to the 5-day average. In summary, while Cholamandalam Investment & Finance Company Ltd has seen a notable rise in open interest, the stock continues to face downward pressure in the market.