Max Financial Services Sees Surge in Open Interest Amid Market Activity Shift
Max Financial Services Ltd has seen a significant rise in open interest, reaching 15,444 contracts, indicating increased activity in the derivatives market. The day's trading volume was 7,207 contracts, with a total market value of approximately Rs 44,748.48 lakhs, despite a recent decline in delivery volume.
Max Financial Services Ltd (MFSL) has experienced a notable increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 15,444 contracts, up from the previous figure of 13,893, marking a change of 1,551 contracts or an 11.16% increase. The trading volume for the day reached 7,207 contracts, contributing to a futures value of approximately Rs 44,573.68 lakhs and an options value of around Rs 2,172.34 crore, bringing the total value to Rs 44,748.48 lakhs. The underlying value of the stock is reported at Rs 1,140.In terms of price performance, Max Financial Services has underperformed its sector by 0.68%, with a 1D return of -1.36%. This comes after a five-day streak of gains, indicating a potential trend reversal. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a generally positive long-term trend. However, delivery volume has decreased significantly, falling by 44.47% compared to the five-day average, indicating a decline in investor participation. Overall, the increase in open interest highlights a shift in market dynamics for Max Financial Services.
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