Nuvama Wealth Management Sees Surge in Open Interest Amid Increased Trading Activity
Nuvama Wealth Management Ltd has seen a notable rise in open interest, reaching 4,049 contracts, alongside a trading volume of 2,378 contracts, indicating increased market activity. Despite underperforming its sector, the stock shows signs of a potential trend reversal after recent declines, with rising investor participation evident in delivery volumes.
Nuvama Wealth Management Ltd (NUVAMA) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 4,049 contracts, up from the previous 3,591, marking a change of 458 contracts or a 12.75% increase. The trading volume for the day reached 2,378 contracts, indicating robust participation in the market.In terms of price performance, Nuvama has underperformed its sector by 0.47%, although it has shown signs of a trend reversal after four consecutive days of decline. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a challenging market position. Notably, the delivery volume on August 29 was 74.17k, which represents a 14.26% increase compared to the 5-day average delivery volume, indicating rising investor participation.
With a market capitalization of Rs 23,184 crore, Nuvama operates within the capital markets industry. The total future value is reported at Rs 3,902.43 lakhs, while the total options value is approximately Rs 798.48 crore. Overall, the increase in open interest highlights a notable shift in trading dynamics for Nuvama Wealth Management.
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