Nuvama Wealth Management Sees Significant Open Interest Surge Amid Market Dynamics Shift
Nuvama Wealth Management Ltd has seen a notable increase in open interest, reaching 10,514 contracts, alongside a trading volume of 16,131 contracts. Despite this activity, the stock has underperformed its sector, declining today while showing a trend reversal after four days of gains.
Nuvama Wealth Management Ltd, a small-cap player in the capital markets sector, has experienced a significant increase in open interest today. The latest open interest stands at 10,514 contracts, reflecting a rise of 1,536 contracts or 17.11% from the previous open interest of 8,978. This uptick coincides with a trading volume of 16,131 contracts, indicating heightened activity in the stock.Despite this surge in open interest, Nuvama's stock has underperformed its sector, declining by 1.06% today, while the broader finance/NBFC sector gained 2.48%. The stock reached an intraday low of Rs 6,776.5, down 2.62%, and has shown a trend reversal after four consecutive days of gains. The weighted average price suggests that more volume was traded closer to this low price.
In terms of moving averages, Nuvama's stock is currently above its 5-day, 100-day, and 200-day moving averages but below its 20-day and 50-day averages. The liquidity remains robust, with a delivery volume of 75.42k on August 14, marking a 76.72% increase compared to the 5-day average. Overall, the notable rise in open interest highlights a shift in market dynamics for Nuvama Wealth Management.
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