Kotak Mahindra Bank Sees Surge in Open Interest Amid Active Futures Trading
Kotak Mahindra Bank Ltd has seen a notable rise in open interest, indicating increased activity in its futures market. The stock reached a new all-time high, demonstrating strong momentum and favorable liquidity, with trading volumes significantly surpassing recent averages, reflecting a vibrant trading environment.
Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 135,395 contracts, up from the previous figure of 122,579, marking a change of 12,816 contracts or a 10.46% increase. The trading volume for the day reached 157,800 contracts, contributing to a total futures value of approximately Rs 232,558 lakhs.In terms of price performance, Kotak Mahindra Bank reached a new 52-week and all-time high of Rs 2,301.90, representing a 2.7% increase during the trading session. The stock has shown strong momentum, gaining 11.27% over the past six days and outperforming its sector by 1.24% today. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a robust upward trend.
Additionally, the stock's liquidity remains favorable, with a delivery volume of 32.89 lakh shares, which is 4.9% higher than the 5-day average. Overall, the notable rise in open interest and strong price performance underscores the active trading environment surrounding Kotak Mahindra Bank.
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