Surge in Open Interest Signals Increased Activity for HDFC Asset Management Stock
HDFC Asset Management Company Ltd has seen a notable rise in open interest, reaching 37,256 contracts, alongside a trading volume of 52,677 contracts. The stock is nearing its 52-week high and has shown strong performance, trading above multiple moving averages despite a decline in delivery volume.
HDFC Asset Management Company Ltd (HDFCAMC) has experienced a significant increase in open interest today, reflecting notable activity in the capital markets sector. The latest open interest stands at 37,256 contracts, marking a rise of 5,361 contracts or 16.81% from the previous open interest of 31,895. The trading volume for the day reached 52,677 contracts, contributing to a total futures value of approximately Rs 84,650.13 lakhs.In terms of price performance, HDFC AMC is currently trading close to its 52-week high, just 4.2% away from Rs 5,278.9. The stock has outperformed its sector by 1.49%, with an intraday high of Rs 5,095, reflecting a 3.17% increase for the day. Additionally, HDFC AMC is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Despite a decline in delivery volume, which fell by 39.14% against the 5-day average, the stock remains liquid enough for a trade size of Rs 3.08 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and solid price performance highlights HDFC AMC's robust position in the market.
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