Surge in Open Interest Signals Increased Activity in HDFC Asset Management Stock
HDFC Asset Management Company Ltd has seen a significant rise in open interest, reaching 34,688 contracts, alongside a trading volume of 17,557 contracts. Despite underperforming its sector, the company maintains a strong market capitalization of Rs 1,05,436.00 crore, indicating its importance in the capital markets.
HDFC Asset Management Company Ltd (HDFCAMC) has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 34,688 contracts, up from the previous figure of 31,523, marking a change of 3,165 contracts or a percentage increase of 10.04%. The trading volume for the day reached 17,557 contracts, contributing to a futures value of approximately Rs 64,854.89 lakhs.In terms of price performance, HDFC Asset Management Company has underperformed its sector by 1.03%, with a one-day return of -0.40%. The stock is currently trading above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is below its 5-day moving average. The delivery volume has also seen a rise, with 2.28 lakh shares delivered on June 20, reflecting a 0.95% increase compared to the 5-day average.
With a market capitalization of Rs 1,05,436.00 crore, HDFC Asset Management Company remains a significant player in the capital markets industry. The increase in open interest today highlights a shift in market dynamics, warranting attention from market participants.
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