Nuvama Wealth Management Sees 15.02% Surge in Open Interest to 16,253 Contracts

Nuvama Wealth Management Ltd, a small-cap player in the capital markets industry, has experienced a notable increase in open interest (OI) today. The latest OI stands at 16,253 contracts, reflecting a rise of 2,122 contracts or 15.02% from the previous OI of 14,131. This surge in OI comes alongside a trading volume of 26,118 contracts, indicating heightened activity in the stock.
Despite this increase in open interest, Nuvama's stock has underperformed its sector, showing a decline of 0.50% today, compared to a sector decline of 0.35%. The stock has been on a downward trend, having fallen for the last two consecutive days, resulting in a total return of -1.36% over this period. However, it is noteworthy that Nuvama is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong position in terms of historical price performance.

With a market capitalization of Rs 25,874.30 crore, Nuvama Wealth Management continues to demonstrate liquidity, with a delivery volume of 45,550 on October 23, reflecting an increase of 11.32% against the 5-day average. Overall, the increase in open interest highlights a significant shift in market dynamics for Nuvama Wealth Management, warranting attention from market participants.