HDFC Asset Management Sees Surge in Open Interest Amid Strong Derivatives Activity
HDFC Asset Management Company Ltd has seen a significant rise in open interest, reaching 33,677 contracts, alongside a trading volume of 42,805 contracts. The stock achieved a new all-time high of Rs. 5,869.5 and has shown strong performance metrics, despite a decline in delivery volume.
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 33,677 contracts, marking an increase of 3,571 contracts or 11.86% from the previous open interest of 30,106. The trading volume for the day reached 42,805 contracts, indicating robust participation in the stock.In terms of price performance, HDFC AMC reached a new 52-week and all-time high of Rs. 5,869.5 today. The stock has outperformed its sector by 1.58% and has shown a consecutive gain over the last two days, with a total return of 2.65% during this period. Additionally, HDFC AMC is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume falling by 11.61% compared to the 5-day average. The stock remains liquid, with a trade size of Rs 5.94 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a significant day for HDFC Asset Management Company.
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