Open Interest and Volume Dynamics
On 10 Feb 2026, PB Fintech Ltd recorded an open interest (OI) of 48,663 contracts in its derivatives, up by 5,248 contracts from the previous day’s 43,415, marking a 12.09% rise. This increase in OI was accompanied by a total volume of 62,538 contracts, indicating robust trading activity. The futures segment alone accounted for a value of approximately ₹68,446.24 lakhs, while options contributed a substantial ₹27,142.50 crores, culminating in a combined derivatives value of ₹74,879.55 lakhs.
The underlying stock price stood at ₹1,519, having touched an intraday low of ₹1,476, down 3.66% on the day. The weighted average price of traded contracts skewed closer to the day’s low, suggesting selling pressure and a bearish bias among market participants.
Price Performance and Moving Averages
PB Fintech’s share price declined by 1.63% on the day, underperforming its Financial Technology sector which gained 0.16%, as well as the Sensex, which also rose by 0.16%. The stock’s price currently trades above its 5-day moving average but remains below its 20-day, 50-day, 100-day, and 200-day moving averages. This positioning indicates short-term support but sustained medium- to long-term weakness, reflecting investor uncertainty and potential downward momentum.
Investor Participation and Liquidity
Investor participation appears to be waning, with delivery volumes on 9 Feb falling sharply by 56.19% compared to the 5-day average, registering only 26.99 lakh shares delivered. This decline in delivery volume suggests reduced conviction among long-term holders, possibly signalling profit booking or cautious stance ahead of upcoming market catalysts.
Despite this, liquidity remains adequate for sizeable trades, with the stock’s average traded value supporting transaction sizes up to ₹31.96 crores based on 2% of the 5-day average traded value. This ensures that institutional investors can still enter or exit positions without significant market impact.
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Market Positioning and Directional Bets
The surge in open interest alongside rising volumes typically signals fresh capital entering the market or existing participants increasing their exposure. In PB Fintech’s case, the increase in OI coupled with a declining stock price and volume weighted near the lows suggests that traders are building short positions or hedging against further downside risks.
Options market data, with an options value exceeding ₹27,142 crores, further supports the view of active hedging and speculative activity. The large notional value in options indicates that market participants are positioning for volatility, possibly anticipating earnings announcements, regulatory developments, or sector-specific headwinds.
Mojo Score and Analyst Ratings
PB Fintech currently holds a Mojo Score of 41.0, categorised as a Sell, a downgrade from its previous Hold rating as of 27 Jan 2026. The Market Cap Grade stands at 2, reflecting its mid-cap status with a market capitalisation of approximately ₹69,734.34 crores. This downgrade aligns with the recent price underperformance and deteriorating technical indicators, signalling caution for investors.
Given the current technical and fundamental backdrop, the stock’s outlook appears subdued, with limited near-term upside catalysts. Investors should weigh the risks of further downside against the stock’s liquidity and sector positioning before committing fresh capital.
Sector and Broader Market Context
The Financial Technology sector has shown resilience with a modest 0.16% gain on the day, contrasting with PB Fintech’s decline. This divergence highlights company-specific challenges or profit-taking pressures. The broader Sensex also gained 0.16%, underscoring that PB Fintech’s weakness is not reflective of overall market sentiment but rather internal or sector-specific factors.
Investors should monitor upcoming quarterly results, regulatory updates, and sector trends closely, as these will likely influence the stock’s trajectory and derivatives market positioning in the near term.
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Investor Takeaway
In summary, the recent spike in open interest and volume in PB Fintech’s derivatives market reflects a shift towards bearish positioning amid price weakness and falling delivery volumes. The downgrade to a Sell rating by MarketsMOJO’s analysts further emphasises the cautious outlook.
Traders and investors should remain vigilant for signs of trend reversal or confirmation of further declines, particularly by monitoring moving averages, delivery volumes, and options market activity. Given the stock’s liquidity and mid-cap status, it remains accessible for active trading strategies, but the prevailing sentiment suggests a defensive stance is prudent at this juncture.
As always, a comprehensive evaluation of fundamentals, technicals, and market sentiment is essential before making investment decisions in this volatile environment.
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