HDFC Asset Management Sees Surge in Open Interest Amid Increased Trading Activity
HDFC Asset Management Company Ltd has seen a notable rise in open interest, reaching 35,891 contracts, alongside a trading volume of 25,514 contracts. The stock is near its 52-week high, with a significant intraday gain, although investor participation has declined compared to recent averages.
HDFC Asset Management Company Ltd (HDFCAMC) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 35,891 contracts, marking a rise of 3,996 contracts or 12.53% from the previous open interest of 31,895. The trading volume for the day reached 25,514 contracts, contributing to a total futures value of approximately Rs 34,426.63 lakhs.In terms of price performance, HDFC AMC is currently trading close to its 52-week high, just 4.01% away from Rs 5,278.90. The stock recorded an intraday high of Rs 5,093.30, reflecting a gain of 3.13% for the day. Notably, HDFC AMC has outperformed its sector by 1.57%, with a one-day return of 2.41%, compared to the sector's return of 1.16% and the Sensex's return of 0.92%.
Despite this positive price movement, there has been a decline in investor participation, with delivery volume dropping by 39.14% against the five-day average. HDFC AMC remains a liquid stock, suitable for trades of approximately Rs 3.08 crore based on 2% of the five-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a notable day for HDFC Asset Management Company.
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