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 2,918 contracts, alongside a trading volume of 9,225 contracts, indicating increased market activity. The stock has outperformed its sector, reversing a decline, and currently shows a strong dividend yield and sufficient liquidity for trading.
Nuvama Wealth Management Ltd (NUVAMA) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 2,918 contracts, a notable rise from the previous open interest of 1,399 contracts, marking a change of 1,519 contracts or 108.58%. This surge in open interest coincides with a trading volume of 9,225 contracts, indicating robust market engagement.In terms of price performance, Nuvama Wealth Management has outperformed its sector by 1.26%, reversing a three-day decline. The stock reached an intraday high of Rs 7,178, representing a gain of 4.34%. Currently, the stock is trading above its 100-day and 200-day moving averages, although it remains below its 5-day, 20-day, and 50-day moving averages.
Additionally, the stock boasts a high dividend yield of 3.06% at the current price, and its liquidity is deemed sufficient for trades up to Rs 2.35 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's recent performance highlight a dynamic trading environment for Nuvama Wealth Management.
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