Max Financial Services Sees Surge in Open Interest Amid Increased Trading Activity
Max Financial Services Ltd has seen a notable rise in open interest, reaching 10,700 contracts, alongside a trading volume of 14,613. The stock achieved a new all-time high of Rs 1,674.80, despite a significant drop in delivery volume. This reflects a shift in trading dynamics for the company.
Max Financial Services Ltd (MFSL) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 10,700 contracts, up from the previous 9,488, marking a change of 1,212 contracts or a 12.77% increase. The trading volume for the day reached 14,613, contributing to a futures value of approximately Rs 34,423.21 lakhs and an options value of Rs 16,057.61 crore, bringing the total value to Rs 36,469.07 lakhs.In terms of price performance, Max Financial Services hit a new 52-week and all-time high of Rs 1,674.80, reflecting a 4.79% increase during the trading session. Despite this achievement, the stock underperformed its sector by 0.45%, although it has shown a positive trend with a 2.88% gain over the last two days. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong position in the market.
However, it is worth noting that delivery volume has decreased significantly, falling by 50.81% compared to the 5-day average. Overall, the increase in open interest alongside the stock's recent performance highlights a notable shift in trading dynamics for Max Financial Services.
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