Kotak Mahindra Bank Sees Surge in Open Interest Amid Strong Trading Activity
Kotak Mahindra Bank Ltd has seen a notable rise in open interest, reaching 144,348 contracts, alongside a trading volume of 221,395 contracts. The stock achieved a new all-time high of Rs 2,301.9, reflecting strong market engagement and consistent upward momentum, with increased delivery volume indicating heightened investor interest.
Kotak Mahindra Bank Ltd (KOTAKBANK) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 144,348 contracts, up from the previous 122,579 contracts, marking a change of 21,769 contracts or a 17.76% increase. The trading volume for the day reached 221,395 contracts, indicating robust market engagement.In terms of price performance, Kotak Mahindra Bank hit a new 52-week and all-time high of Rs 2,301.9, representing a 2.7% increase for the day. The stock has shown consistent upward momentum, gaining 11.03% over the past six days. Notably, it has outperformed its sector by 0.73% today, with a one-day return of 1.65%, compared to the sector's return of 0.91% and the Sensex's return of 0.22%.
The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong bullish trend. Additionally, the delivery volume has increased by 4.9% against the 5-day average, suggesting rising investor participation. With a market capitalization of Rs 4,53,096.00 crore, Kotak Mahindra Bank remains a significant player in the private banking sector. Overall, the notable spurt in open interest and strong price performance underscores the stock's active trading environment today.
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