Kotak Mahindra Bank Sees 13.61% Surge in Open Interest Amid Trading Activity

Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting notable activity in its trading. 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 percentage increase of 13.61%. The trading volume for the day reached 106,691 contracts, indicating robust market engagement.
In terms of financial metrics, the stock's underlying value is reported at Rs 2,163. Despite the uptick in open interest, Kotak Mahindra Bank has underperformed its sector by 0.54% today, with a 1D return of -1.27%. The stock has been on a downward trend, having lost 2.38% over the past three days.

Additionally, the stock's performance relative to moving averages shows it is currently above the 50-day, 100-day, and 200-day moving averages, but below the 5-day and 20-day averages. The delivery volume has also seen a decline, falling by 20.11% against the 5-day average, suggesting a decrease in investor participation.

Overall, the increase in open interest for Kotak Mahindra Bank highlights a shift in trading dynamics, even as the stock grapples with recent performance challenges.