HDFC Asset Management Sees Surge in Open Interest Amid Active Trading Environment
HDFC Asset Management Company Ltd has seen a notable rise in open interest, reaching 36,896 contracts, alongside a trading volume of 47,982 contracts. The stock is nearing its 52-week high, having outperformed its sector, despite a decline in investor participation reflected in lower delivery volumes.
HDFC Asset Management Company Ltd (HDFCAMC) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 36,896 contracts, marking a rise of 5,001 contracts or 15.68% from the previous open interest of 31,895. The trading volume for the day reached 47,982 contracts, contributing to a futures value of approximately Rs 72,039.41 lakhs.In terms of price performance, HDFC AMC is currently trading close to its 52-week high, just 4.4% away from Rs 5,278.90. The stock recorded an intraday high of Rs 5,095, reflecting a gain of 3.17% for the day. Notably, HDFC AMC has outperformed its sector, delivering a 1.06% return compared to the sector's 0.90% and the Sensex's 0.44% return.
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 alongside the stock's performance metrics highlights a dynamic trading environment for HDFC Asset Management Company.
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