Cholamandalam Investment Sees Significant Open Interest Surge Amid Market Activity

Cholamandalam Investment & Finance Company Ltd (CHOLAFIN), a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 31,229 contracts, reflecting a rise of 4,778 contracts or 18.06% from the previous open interest of 26,451 contracts. This uptick coincides with a trading volume of 46,582 contracts, indicating active participation in the market.
In terms of price performance, Cholamandalam's stock has been under pressure, having declined for the last nine consecutive days, resulting in a total drop of 9.33% during this period. Today, the stock reached an intraday high of Rs 1,481.90, marking a 2.68% increase, while it also touched a low of Rs 1,404, down by 2.72%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

Despite the recent challenges, the stock remains above its 200-day moving average, although it is currently below its 5-day, 20-day, 50-day, and 100-day moving averages. The liquidity remains robust, with a delivery volume of 44.12 lakh shares on July 31, reflecting a 268.46% increase compared to the 5-day average delivery volume. Overall, the notable rise in open interest highlights a shift in market dynamics for Cholamandalam Investment & Finance Company.