Max Financial Services Sees 14.12% Surge in Open Interest Amid Increased Trading Activity
Max Financial Services Ltd has seen a significant rise in open interest, reaching 12,625 contracts, alongside a trading volume of 7,019 contracts. The stock has outperformed its sector and demonstrated consistent gains over the past two days, with notable increases in delivery volume and liquidity.
Max Financial Services Ltd (MFSL), a mid-cap player in the insurance industry, has experienced a notable increase in open interest today. The latest open interest stands at 12,625 contracts, reflecting a rise of 1,562 contracts or 14.12% from the previous open interest of 11,063. This surge in open interest coincides with a trading volume of 7,019 contracts, indicating heightened activity in the stock.In terms of performance, Max Financial Services has outperformed its sector by 0.6% today, with a 1D return of 0.44%. The stock has shown consistent gains over the past two days, accumulating a total return of 3.04% during this period. While the stock's price is currently above its 5-day and 200-day moving averages, it remains below the 20-day, 50-day, and 100-day moving averages.
Additionally, the delivery volume on October 30 reached 9.02 lakh shares, marking a significant increase of 60.77% compared to the 5-day average delivery volume. With a market capitalization of Rs 53,941.44 crore, Max Financial Services continues to demonstrate liquidity suitable for trades of Rs 2.86 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and trading activity highlights a dynamic trading environment for Max Financial Services.
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