L&T Finance Ltd Sees 60.4% Surge in Open Interest Amid Strong Price Performance
L&T Finance Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 32,460 contracts, marking a substantial rise of 12,223 contracts or 60.4% from the previous open interest of 20,237. This surge coincides with a trading volume of 112,882 contracts, indicating robust market engagement.In terms of price performance, L&T Finance reached a new 52-week and all-time high of Rs. 305.3, representing a notable intraday increase of 10.94%. The stock has outperformed its sector by 8.18% today, showcasing its strong market position. It has traded within a wide range of Rs. 33.3, with a weighted average price reflecting more volume near 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 and strong price performance highlight the current dynamics surrounding L&T Finance Ltd.
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