Max Financial Services Sees 14.12% Surge in Open Interest Amid Increased Trading Activity
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 12,625 contracts, up from the previous 11,063, marking a change of 1,562 contracts or a 14.12% increase. The trading volume for the day reached 7,019 contracts, contributing to a total futures value of approximately Rs 51,711.70 lakhs.In terms of price performance, Max Financial Services has outperformed its sector by 2.9%, with the stock reaching an intraday high of Rs 1,564.70, reflecting a gain of 3.02%. The stock's performance is notable as it is currently above its 5-day and 200-day moving averages, although it remains below the 20-day, 50-day, and 100-day moving averages.
Additionally, the delivery volume on October 29 surged to 923,000 shares, an increase of 140.37% compared to the 5-day average delivery volume, indicating rising investor participation. With a market capitalization of Rs 53,589.42 crore, Max Financial Services continues to maintain a liquid trading environment, suitable for transactions of up to Rs 2.49 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Max Financial Services.
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