L&T Finance Ltd Sees 38.84% Surge in Open Interest Amid Increased Trading Activity
L&T Finance Ltd, a mid-cap player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 28,097 contracts, marking a notable rise of 7,860 contracts or 38.84% from the previous open interest of 20,237. This surge coincides with a trading volume of 71,767 contracts, indicating heightened activity in the derivatives market.In terms of price performance, L&T Finance reached a new 52-week and all-time high of Rs 300.8, reflecting a robust intraday gain of 9.3%. The stock has outperformed its sector by 6.97%, showcasing its strong market position. It has traded within a wide range of Rs 28.8 today, with the weighted average price indicating that more volume was traded closer to the lower end of this range.
Despite the positive price movements, there has been a decline in investor participation, with delivery volume dropping by 13.1% compared to the five-day average. Nevertheless, L&T Finance remains liquid enough for trades up to Rs 3.75 crore, based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for L&T Finance Ltd.
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