Kotak Mahindra Bank Sees 14.65% Surge in Open Interest Amid Increased Trading Activity

Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 148,648 contracts, marking an increase of 18,999 contracts or 14.65% from the previous open interest of 129,649. The trading volume for the day reached 130,883 contracts, indicating robust participation in the market.
In terms of price performance, Kotak Mahindra Bank underperformed its sector by 1.71%, with the stock hitting an intraday low of Rs 2,168.2, down 2.58% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point. Notably, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.

Investor participation has also seen a rise, with delivery volume on October 23 reaching 30.53 lakh shares, a 45.79% increase compared to the 5-day average. The liquidity of the stock remains favorable, accommodating trade sizes of Rs 16.7 crore based on 2% of the 5-day average traded value.

In summary, the notable spurt in open interest for Kotak Mahindra Bank highlights increased trading activity, while the stock's current performance metrics provide a comprehensive view of its market position.