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 activity in the derivatives market. The latest open interest stands at 149,835 contracts, up from the previous figure of 131,887, marking a change of 17,948 contracts or a 13.61% increase. This uptick coincides with a trading volume of 106,691 contracts, indicating robust engagement in the stock's futures market.
In terms of price performance, Kotak Mahindra Bank has underperformed its sector by 0.7%, with a 1D return of -1.27%. Over the past three days, the stock has seen a decline of 2.49%. Despite this recent downturn, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is trading below its 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, reflecting a decrease of 20.11% compared to the 5-day average. The stock's liquidity remains adequate, with a trade size of Rs 14.42 crore based on 2% of the 5-day average traded value.

In summary, the notable rise in open interest for Kotak Mahindra Bank highlights increased trading activity, even as the stock faces recent challenges in price performance and investor participation.