Surge in Open Interest Signals Increased Market Activity for Cholamandalam Investment
Cholamandalam Investment & Finance Company Ltd (CHOLAFIN) has seen a notable rise in open interest, reaching 35,571 contracts, alongside a trading volume of 37,077 contracts. Despite this activity, the stock has underperformed its sector, experiencing a decline, while liquidity remains strong with increased 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 35,571 contracts, up from the previous 30,759, marking a change of 4,812 contracts or a 15.64% increase. The trading volume for the day reached 37,077 contracts, indicating robust participation in the market.Despite this surge in open interest, the stock has underperformed its sector, declining by 3.62% today, compared to a sector drop of 1.99%. The stock opened lower, with a gap down of 2.02%, and hit an intraday low of Rs 1,465.7, reflecting a 5.52% decrease at its lowest point. Over the past four days, Cholamandalam has seen a cumulative decline of 5.2%.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 17.17 lakh shares on July 24, which is a 150.46% increase compared to the five-day average. The company operates within the Non-Banking Financial Company (NBFC) sector and holds a market capitalization of Rs 1,25,772.85 crore. Overall, the increase in open interest amidst a declining price trend highlights a complex market scenario for Cholamandalam Investment & Finance Company.
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