Poonawalla Fincorp Sees Surge in Open Interest Amid Dynamic Trading Environment
Poonawalla Fincorp Ltd has seen a notable rise in open interest, reaching 17,481 contracts, alongside a trading volume of 11,196 contracts. The stock has outperformed its sector and is trading above key moving averages, despite a significant drop in delivery volume compared to recent averages.
Poonawalla Fincorp Ltd, a prominent player in the Finance/NBFC sector, has experienced a significant increase in open interest today. The latest open interest stands at 17,481 contracts, reflecting a rise of 1,768 contracts or 11.25% from the previous open interest of 15,713. The trading volume for the day reached 11,196 contracts, contributing to a total futures value of approximately Rs 14,855.24 lakhs.In terms of price performance, Poonawalla Fincorp has outperformed its sector by 3.19%, marking a notable trend reversal after two consecutive days of decline. The stock touched an intraday high of Rs 361, representing a gain of 3.66% for the day. Additionally, Poonawalla Fincorp is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive momentum in its price trajectory.
However, it is worth noting a decline in investor participation, with delivery volume dropping by 78.45% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 2.59 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest alongside the stock's performance highlights a dynamic trading environment for Poonawalla Fincorp.
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