Nuvama Wealth Management Sees Surge in Open Interest Amid Market Activity Shift

Nuvama Wealth Management Ltd (NUVAMA) has experienced a significant increase in open interest today, reflecting heightened activity in the derivatives market. The latest open interest stands at 11,160 contracts, up from the previous 9,971 contracts, marking a change of 1,189 contracts or an 11.92% increase. The trading volume for the day reached 12,510 contracts, indicating robust participation in the market.
In terms of price performance, Nuvama has underperformed its sector by 0.99%, with the stock recording a 1D return of -1.45%. Over the past two days, the stock has seen a consecutive decline, totaling a drop of 2.34%. The intraday low was noted at Rs 6,701.5, reflecting a decrease of 2.61% from the previous close.

Despite these challenges, the stock remains above its 200-day moving average, although it is trading below the 5-day, 20-day, 50-day, and 100-day moving averages. Notably, delivery volume has surged by 60.6% compared to the 5-day average, suggesting increased liquidity, with the stock being liquid enough for a trade size of Rs 2.25 crore.

In summary, the notable rise in open interest for Nuvama Wealth Management highlights a shift in market dynamics, even as the stock faces recent price pressures.