Max Financial Services Sees 14.12% Surge in Open Interest to 12,625 Contracts
Max Financial Services Ltd (MFSL), a mid-cap player in the insurance sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. 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. This surge coincides with a trading volume of 7,019 contracts, indicating robust market engagement.In terms of price performance, MFSL outperformed its sector by 3.49%, reaching an intraday high of Rs 1,564.7, which represents a 3.02% increase for the day. The stock is currently positioned above its 5-day and 200-day moving averages, although it remains below the 20-day, 50-day, and 100-day moving averages. Notably, the delivery volume on October 29 surged to 923,000 shares, reflecting a 140.37% increase compared to the 5-day average, suggesting rising investor participation.
With a market capitalization of Rs 53,906.93 crore, Max Financial Services continues to demonstrate liquidity, supporting trade sizes of approximately Rs 2.49 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest and trading volume underscores a dynamic trading environment for MFSL.
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