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 21,102 contracts, alongside a trading volume of 15,511 contracts. The stock achieved a new all-time high of Rs. 1,622.6 and has shown consistent gains, although investor participation has declined.
Max Financial Services Ltd (MFSL), a prominent player in the insurance sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 21,102 contracts, up from the previous 17,323 contracts, marking a change of 3,779 contracts or a 21.81% increase. The trading volume for the day reached 15,511 contracts, indicating robust market engagement.In terms of price performance, Max Financial Services hit a new 52-week and all-time high of Rs. 1,622.6 today. The stock has shown consistent gains over the past three days, with a total return of 2.84% during this period. Notably, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 28.9% compared to the 5-day average. The stock remains liquid, with a trading capacity of Rs 3.52 crore based on 2% of the 5-day average traded value. Overall, the surge in open interest and the stock's performance metrics highlight a dynamic trading environment for Max Financial Services.
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