IDFC First Bank Sees 11.55% Surge in Open Interest Amid Increased Trading Activity

IDFC First Bank Ltd. has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 81,566 contracts, marking an increase of 8,446 contracts or 11.55% from the previous open interest of 73,120. The trading volume for the day reached 37,480, contributing to a futures value of approximately Rs 134.72 lakhs and an options value of around Rs 14,161.84 crore, culminating in a total value of Rs 136.51 lakhs.
In terms of price performance, IDFC First Bank is currently trading at Rs 78, just 2.5% away from its 52-week high of Rs 80.1. The stock's performance today aligns closely with the sector, with a 1-day return of -1.00%, compared to the sector's -0.98% and the Sensex's -0.61%. Notably, IDFC First Bank is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong trend in its price movement.

Additionally, the stock has seen a notable rise in delivery volume, which reached 5.28 crore on October 23, reflecting a 160.44% increase against the 5-day average delivery volume. This liquidity suggests that the stock is actively traded, with a market capitalization of Rs 63,723.85 crore, classifying it as a mid-cap entity in the private sector banking industry. Overall, the increase in open interest and trading metrics highlights a dynamic trading environment for IDFC First Bank.