HDFC Asset Management Sees Surge in Open Interest Amid Increased Trading Activity
HDFC Asset Management Company Ltd has seen a significant rise in open interest, reaching 42,722 contracts, alongside a trading volume of 42,107 contracts. The stock is close to its 52-week high and has shown resilience despite a decline in investor participation and delivery volume.
HDFC Asset Management Company Ltd (HDFCAMC) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 42,722 contracts, marking a significant rise of 5,021 contracts or 13.32% from the previous open interest of 37,701. The trading volume for the day reached 42,107 contracts, contributing to a futures value of approximately Rs 120,939.04 lakhs.In terms of price performance, HDFCAMC is currently trading just 1.95% away from its 52-week high of Rs 5,655. The stock has shown resilience today, gaining 0.14%, while outperforming its sector, which declined by 1.12%. Notably, this uptick comes after two consecutive days of decline, indicating a potential trend reversal.
Despite the positive price movement, there has been a decline in investor participation, with delivery volume dropping by 24.49% compared to the five-day average. However, the stock remains liquid, with a trading capacity sufficient for a trade size of Rs 3.96 crore, based on 2% of the five-day average traded value. Overall, the increase in open interest and the stock's current positioning highlight a dynamic trading environment for HDFC Asset Management Company.
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