Surge in Open Interest Signals Increased Activity for Jio Financial Services Amid Market Challenges
Jio Financial Services Ltd has seen a significant rise in open interest, indicating increased activity in the derivatives market, with current figures at 155,969 contracts. Despite this, the stock has underperformed compared to its sector and experienced a decline in investor participation, reflecting a challenging trading environment.
Jio Financial Services Ltd (JIOFIN) has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 155,969 contracts, up from the previous 140,857, marking a change of 15,112 contracts or a 10.73% increase. The trading volume for the day reached 60,253 contracts, contributing to a total futures value of approximately Rs 120,477.62 lakhs.Despite this surge in open interest, Jio Financial Services has underperformed relative to its sector, with a 1D return of -1.55%, compared to the sector's -0.89% and the Sensex's -0.63%. The stock has been on a downward trend, having lost 3.67% over the last two days. Currently, it is trading above its 20-day moving average but below the 5-day, 50-day, 100-day, and 200-day moving averages.
Investor participation appears to be declining, with a delivery volume of 1.14 crore on March 25, down 32.02% from the 5-day average. The stock remains liquid, with a trade size capacity of Rs 13.87 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Jio Financial Services, amidst a challenging trading environment.
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