Poonawalla Fincorp Sees Significant Surge in Open Interest Amid Active Trading Day
Poonawalla Fincorp Ltd has seen a significant rise in open interest, reaching 17,433 contracts, alongside a trading volume of 18,547 contracts, indicating active participation in the derivatives market. Despite an initial price decline, the stock has shown resilience and remains above key moving averages, reflecting strong liquidity.
Poonawalla Fincorp Ltd, a prominent player in the Finance/NBFC sector, has experienced a notable increase in open interest today. The latest open interest stands at 17,433 contracts, reflecting a rise of 1,863 contracts or 11.97% from the previous open interest of 15,570. The trading volume for the day reached 18,547 contracts, indicating robust activity in the derivatives market.In terms of price performance, Poonawalla Fincorp opened the day with a loss of 3%, touching an intraday low of Rs 363.5, which represents a decline of 4.44%. However, the stock has shown resilience by outperforming its sector by 0.96% and reversing a three-day downward trend, with a 1D return of 0.76%. The stock's weighted average price suggests that more volume was traded closer to its low price for the day.
Additionally, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average. With a market capitalization of Rs 29,821.29 crore, Poonawalla Fincorp continues to demonstrate liquidity, supporting a trade size of Rs 2.22 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Poonawalla Fincorp.
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