ICICI Bank Sees 13.88% Surge in Open Interest, Reaching 255,846 Contracts

ICICI Bank Ltd., a prominent player in the private sector banking industry, has experienced a significant increase in open interest today. The latest open interest stands at 255,846 contracts, reflecting a notable rise of 31,184 contracts or 13.88% from the previous open interest of 224,662. This surge in open interest comes alongside a trading volume of 119,726 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, ICICI Bank has underperformed its sector by 0.26%, with a 1D return of -0.91%. The stock has been on a downward trend, recording losses for six consecutive days, amounting to a total decline of 4.13% during this period. The stock has traded within a narrow range of Rs 13.4, and while it remains above its 200-day moving average, it is currently below the 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the liquidity of ICICI Bank is noteworthy, with a delivery volume of 1.41 crore on September 25, which has increased by 117.4% compared to the 5-day average delivery volume. The market capitalization of ICICI Bank is approximately Rs 9,76,222 crore, solidifying its position as a large-cap entity in the banking sector. Overall, the increase in open interest highlights a shift in market dynamics for ICICI Bank, amidst its recent price performance challenges.