Federal Bank Sees Significant Rise in Open Interest Amid Increased Trading Activity
Federal Bank Ltd has seen a significant rise in open interest, reaching 22,947 contracts, alongside a trading volume of 16,920 contracts, indicating increased derivatives market activity. Despite underperforming its sector, the stock has experienced a notable increase in delivery volume, reflecting evolving market dynamics.
Federal Bank Ltd, a prominent player in the private banking sector, has recently experienced a notable increase in open interest (OI). The latest OI stands at 22,947 contracts, reflecting a rise of 2,218 contracts or 10.7% from the previous OI of 20,729. This uptick in OI comes alongside a trading volume of 16,920 contracts, indicating heightened activity in the derivatives market.In terms of market performance, Federal Bank's stock has underperformed its sector, showing a 1D return of -1.62%, while the banking sector overall recorded a modest gain of 0.68%. The stock is currently trading below its 100-day moving average but remains above its 5-day, 20-day, 50-day, and 200-day moving averages, suggesting mixed short-term trends.
Additionally, the stock has seen a significant rise in delivery volume, with 1.48 crore shares delivered on March 27, marking an increase of 332.42% compared to the 5-day average. With a market capitalization of Rs 48,318 crore, Federal Bank continues to maintain a liquid trading environment, suitable for transactions around Rs 4.19 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Federal Bank, reflecting ongoing developments in its trading activity.
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