Federal Bank Sees 16.37% Surge in Open Interest Amid Increased Trading Activity
Federal Bank Ltd has seen a notable rise in open interest, reaching 42,840 contracts, alongside a trading volume of 57,734. The stock is near its 52-week high and has outperformed its sector recently, with significant increases in delivery volume and a strong market capitalization, indicating robust market engagement.
Federal Bank Ltd, a prominent player in the private sector banking industry, has recently experienced a significant increase in open interest (OI), reflecting heightened trading activity. The latest OI stands at 42,840 contracts, marking a rise of 6,027 contracts or 16.37% from the previous OI of 36,813. This surge in OI coincides with a trading volume of 57,734, indicating robust market engagement.In terms of performance, Federal Bank is currently trading close to its 52-week high, just 2.98% away from the peak of Rs 220. The stock has shown resilience, outperforming its sector by 0.5% today and achieving a notable 11.05% gain over the past seven days. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
The delivery volume on October 13 reached 76.89 lakh shares, reflecting a substantial increase of 95.27% compared to the 5-day average. With a market capitalization of Rs 52,878 crore, Federal Bank demonstrates sufficient liquidity for trades sized at Rs 4.74 crore, further solidifying its position in the market. Overall, the recent uptick in open interest and trading metrics underscores the active engagement surrounding Federal Bank.
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