Kotak Mahindra Bank Sees 13.61% Surge in Open Interest Amid Increased Futures Activity
Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting notable trading activity. The latest open interest stands at 149,835 contracts, up from the previous open interest of 131,887, marking a change of 17,948 contracts or a 13.61% increase. The trading volume for the day reached 106,691 contracts, contributing to a futures value of approximately Rs 341.85 lakhs.Despite this surge in open interest, the stock has underperformed relative to its sector, showing a decline of 1.19% today, while the sector itself fell by 0.61%. Over the past three days, Kotak Mahindra Bank has seen a consecutive decline, with a total drop of 2.26%. The stock's performance is currently above the 50-day, 100-day, and 200-day moving averages, yet it remains below the 5-day and 20-day moving averages.
Investor participation appears to be waning, with a delivery volume of 17.63 lakh shares on October 30, down 20.11% compared to the five-day average. The stock maintains sufficient liquidity for trading, with a market cap of Rs 4,19,958.91 crore, categorizing it as a large-cap entity. Overall, the increase in open interest amidst declining stock performance highlights a complex trading environment for Kotak Mahindra Bank.
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