Surge in Open Interest Signals Increased Trading Activity for HDFC Asset Management
HDFC Asset Management Company Ltd has seen a notable rise in open interest, reaching 32,169 contracts, alongside a trading volume of 20,109 contracts. The stock achieved a new all-time high of Rs. 4,891, although it underperformed compared to its sector. Technical indicators suggest a strong position despite a decline in delivery volume.
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 32,169 contracts, up from the previous 27,588 contracts, marking a change of 4,581 contracts or a 16.61% increase. The trading volume for the day reached 20,109 contracts, indicating robust participation in the market.In terms of price performance, HDFC AMC hit a new 52-week and all-time high of Rs. 4,891 today. However, it underperformed its sector, showing a decline of 2.75% compared to the Finance/NBFC sector, which gained 2.66%. The stock has been on a slight upward trend, with a 1-day return of 0.11%, although it has only gained 0.12% over the last day.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position in terms of technical indicators. Despite a notable drop in delivery volume, which fell by 54.95% against the 5-day average, HDFC AMC remains liquid enough for trades sized at Rs 2.09 crore. Overall, the increase in open interest highlights a notable shift in trading dynamics for HDFC AMC.
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