Nuvama Wealth Management Sees Significant Open Interest Surge Amid Increased Trading Activity
Nuvama Wealth Management Ltd has seen a notable increase in open interest, reaching 8,833 contracts, alongside a trading volume of 25,678. Despite recent price underperformance compared to its sector, the stock remains above its long-term moving averages, indicating active market engagement and changing dynamics.
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 8,833 contracts, reflecting a rise of 1,317 contracts or 17.52% from the previous open interest of 7,516. This uptick coincides with a trading volume of 25,678, indicating heightened activity in the stock.In terms of price performance, Nuvama's stock has underperformed its sector by 1.19%, with a 1D return of -0.85%. The stock reached an intraday high of Rs 7,143.5, marking a gain of 3.08%, while it also saw a low of Rs 6,773.5, down by 2.26%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.
Despite the recent decline, the stock remains above its 100-day and 200-day moving averages, although it is currently below the 5-day, 20-day, and 50-day moving averages. The liquidity remains robust, with a delivery volume of 61.83k on August 13, reflecting a 60.07% increase against the 5-day average delivery volume. Overall, the notable rise in open interest highlights a shift in market dynamics for Nuvama Wealth Management.
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