Nuvama Wealth Management Sees Surge in Open Interest Amid Increased Market Activity
Nuvama Wealth Management Ltd has seen a notable rise in open interest, indicating increased market activity, with current figures at 11,231 contracts. Despite recent price declines and underperformance relative to its sector, the stock remains above its 200-day moving averages, reflecting ongoing liquidity and trading interest.
Nuvama Wealth Management Ltd (NUVAMA) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 11,231 contracts, up from the previous 9,971 contracts, marking a change of 1,260 contracts or a 12.64% increase. The trading volume for the day reached 14,283 contracts, indicating robust participation in the market.In terms of price performance, Nuvama has underperformed its sector by 1.31%, with the stock experiencing a decline of 2.51% over the last two days. The stock touched an intraday low of Rs 6,701.5, down 2.61% from the previous close. The weighted average price suggests that more volume was traded closer to this low price, indicating a potential shift in trading dynamics.
Despite these challenges, the stock remains above its 200-day moving averages, although it is currently below the 5-day, 20-day, 50-day, and 100-day moving averages. The liquidity of Nuvama is supported by a delivery volume of 75.27k on August 18, which has increased by 60.6% compared to the 5-day average delivery volume. Overall, the notable rise in open interest highlights a shift in market sentiment, warranting attention from market participants.
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