L&T Finance Ltd Sees 48.41% Surge in Open Interest to 30,033 Contracts
L&T Finance Ltd has seen a notable rise in open interest, reaching 30,033 contracts, alongside a trading volume of 90,348 contracts. The stock achieved a new all-time high of Rs 302.7, outperforming its sector and indicating a strong market presence despite a slight decline in delivery volume.
L&T Finance Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 30,033 contracts, marking a notable rise from the previous open interest of 20,237 contracts. This represents a change of 9,796 contracts, or an impressive 48.41% increase. The trading volume for the day reached 90,348 contracts, contributing to a total futures value of approximately Rs 173,954.37 lakhs.In terms of price performance, L&T Finance hit a new 52-week and all-time high of Rs 302.7, reflecting a 9.99% increase for the day. The stock has outperformed its sector by 8.25%, showcasing its strong market position. It has traded within a wide range of Rs 30.7, with a weighted average price indicating more volume traded closer to the lower end of this range. Additionally, L&T Finance is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in its performance metrics.
Despite a slight decline in delivery volume, which fell by 13.1% against the 5-day average, the stock remains liquid enough for trades up to Rs 3.75 crore, based on 2% of the 5-day average traded value. Overall, the surge in open interest and robust price performance highlight the active trading environment surrounding L&T Finance Ltd.
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