IDFC First Bank Sees 12.26% Surge in Open Interest Amid Increased Trading Activity

IDFC First Bank Ltd. has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 80,690 contracts, up from the previous figure of 71,879, marking a change of 8,811 contracts or a 12.26% increase. The trading volume for the day reached 91,473 contracts, contributing to a futures value of approximately Rs 185.34 crore.
In terms of price performance, IDFC First Bank hit a new 52-week high of Rs 80.1, representing a 4.34% increase for the day. The stock has outperformed its sector by 3.4%, showcasing its strong market position. Notably, IDFC First Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its price trajectory.

However, it is worth mentioning that the delivery volume has seen a decline, with 6.976 million shares delivered on October 21, reflecting a decrease of 68.61% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of approximately Rs 5.94 crore, based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and the stock's performance metrics highlight a dynamic trading environment for IDFC First Bank.