ICICI Bank Sees 14.73% Surge in Open Interest Amid Price Decline

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 295,360 contracts, reflecting a rise of 37,929 contracts or 14.73% from the previous open interest of 257,431. This uptick comes alongside a trading volume of 145,565 contracts, indicating active participation in the market.
Despite this surge in open interest, ICICI Bank's stock has underperformed relative to its sector, showing a decline of 1.20% today, compared to a sector return of -0.27%. The stock has been on a downward trend, having lost 1.18% over the past two days. Currently, ICICI Bank is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position.

Additionally, the delivery volume on October 27 was recorded at 95.18 lakh shares, which is a decrease of 3.16% compared to the 5-day average delivery volume. The liquidity of the stock remains adequate, with a trade size of Rs 40.57 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for ICICI Bank, amidst its recent performance challenges.