Max Healthcare Sees Surge in Open Interest Amidst Market Volatility
Max Healthcare Institute Ltd has seen a significant rise in open interest, reaching 31,215 contracts, indicating increased trading activity. Despite a decline in price performance and a drop in investor participation, the stock remains above key moving averages, suggesting a longer-term upward trend amidst market challenges.
Max Healthcare Institute Ltd (symbol: MAXHEALTH) has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 31,215 contracts, up from the previous figure of 28,063, marking a change of 3,152 contracts or an 11.23% increase. The trading volume for the day reached 28,072 contracts, contributing to a total futures value of approximately Rs 59,856 lakhs.In terms of price performance, Max Healthcare opened the day with a loss of 2.05% and touched an intraday low of Rs 1,121.15, representing a decline of 4.4%. The stock has underperformed its sector by 2.73% today, with a one-day return of -4.27%. Despite this, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a longer-term upward trend.
Investor participation has seen a decline, with delivery volume falling by 33.76% compared to the 5-day average. However, the stock remains liquid enough for trades sized at Rs 8.31 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for Max Healthcare Institute amidst a challenging market environment.
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