Federal Bank's Open Interest Surges 11.38% to 58,190 Contracts Amid Increased Trading Activity
Federal Bank Ltd, a prominent player in the private sector banking industry, has experienced a significant increase in open interest today. The latest open interest stands at 58,190, marking a rise of 5,946 from the previous open interest of 52,244, which translates to an 11.38% change. The trading volume for the day reached 86,760, contributing to a total futures value of approximately Rs 250.83 crore and an options value of around Rs 75,569.11 crore, culminating in a total value of Rs 259.90 crore.In terms of price performance, Federal Bank hit a new 52-week high of Rs 232.2 today, outperforming its sector by 0.98%. However, the stock has shown a slight decline of 0.29% in its one-day return, following three consecutive days of gains. Notably, Federal Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong trend. Additionally, the delivery volume on October 23 reached 1.01 crore, reflecting a 29.75% increase compared to the 5-day average delivery volume, suggesting robust liquidity for trades of Rs 8.56 crore.
In summary, the notable spurt in open interest for Federal Bank underscores active trading dynamics, while the stock's performance metrics reflect its current market position within the banking sector.
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