Max Healthcare Institute Sees 23.31% Surge in Open Interest Amid Market Activity
Max Healthcare Institute Ltd has seen a notable rise in open interest, reaching 50,564 contracts, alongside a trading volume of 46,480 contracts. Despite this activity, the stock has underperformed its sector and is experiencing a downward trend, trading below key moving averages and facing reduced investor participation.
Max Healthcare Institute Ltd (MAXHEALTH) has experienced a significant increase in open interest today, reflecting notable trading activity. The latest open interest stands at 50,564 contracts, up from the previous 41,007, marking a change of 9,557 contracts or a 23.31% increase. The trading volume for the day reached 46,480 contracts, contributing to a futures value of approximately Rs 39,453.20 lakhs.Despite this surge in open interest, the stock has underperformed its sector by 4.34%, continuing a downward trend with a 4.65% decline over the past two days. The stock hit an intraday low of Rs 1,060, which represents a 4.78% drop from its previous close. Additionally, Max Healthcare is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
Investor participation has also seen a decline, with delivery volume dropping by 75.38% compared to the 5-day average. Nevertheless, the stock remains liquid enough for trades sized at Rs 28.9 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst declining prices highlights a complex market sentiment surrounding Max Healthcare Institute.
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