Nuvama Wealth Management Sees 12.09% Surge in Open Interest Amid Increased Trading Activity
Nuvama Wealth Management Ltd has seen a notable rise in open interest, reaching 11,398 contracts, alongside a trading volume of 8,631 contracts. The stock has outperformed its sector and demonstrated a strong upward trend over the past ten days, despite a decline in delivery volume.
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 11,398 contracts, up from the previous 10,169, marking a change of 1,229 contracts or a 12.09% increase. The trading volume for the day reached 8,631 contracts, indicating robust participation in the market.In terms of price performance, Nuvama has outperformed its sector by 1.63%, with the stock gaining 1.76% on the day. Over the past ten days, it has shown a remarkable upward trend, accumulating a total return of 20.26%. The stock reached an intraday high of Rs 7,314.5, reflecting a 2.63% increase during the session.
Despite this positive momentum, there has been a notable decline in delivery volume, which fell by 50.81% compared to the five-day average, with a delivery volume of 55.25k on October 9. Nuvama Wealth Management is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong market position.
In summary, the increase in open interest alongside the stock's recent performance highlights a dynamic trading environment for Nuvama Wealth Management, underscoring its current standing in the capital markets industry.
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