HDFC Asset Management Sees Surge in Open Interest Amid Dynamic Trading Environment
HDFC Asset Management Company Ltd has seen a notable rise in open interest, reaching 32,789 contracts, alongside a trading volume of 23,198 contracts. The stock achieved a new all-time high of Rs 4,891, although investor participation has decreased significantly, indicating a dynamic trading environment.
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 32,789 contracts, marking a rise of 5,201 contracts or 18.85% from the previous open interest of 27,588. The trading volume for the day reached 23,198 contracts, contributing to a futures value of approximately Rs 70.61 crore.In terms of price performance, HDFC AMC reached a new 52-week and all-time high of Rs 4,891 today. Despite this achievement, the stock underperformed its sector by 2.56%, although it has shown a modest gain of 0.64% over the last two days. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend in its price trajectory.
However, it is noteworthy that investor participation has declined, with delivery volume dropping by 54.95% compared to the 5-day average. The stock remains liquid, with a trade size capacity of Rs 2.09 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest alongside the stock's recent price movements highlights a dynamic trading environment for HDFC AMC.
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