Surge in Open Interest Signals Shift in Market Dynamics for Poonawalla Fincorp

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 22,122 contracts, reflecting a rise of 2,456 contracts or 12.49% from the previous open interest of 19,666. This surge in open interest comes alongside a trading volume of 14,671 contracts, indicating active market participation.
In terms of price performance, Poonawalla Fincorp has underperformed its sector by 1.73%, with the stock experiencing a decline after six consecutive days of gains. The stock reached an intraday high of Rs 416.75, marking a 2.23% increase, while it also touched an intraday low of Rs 397.6, representing a decrease of 2.47%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

Despite the day's challenges, Poonawalla Fincorp is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a generally positive trend over the longer term. The stock's liquidity remains robust, with a delivery volume of 13.29 lakh shares on April 22, reflecting a 57.87% increase compared to the 5-day average delivery volume. Overall, the increase in open interest highlights a significant shift in market dynamics for Poonawalla Fincorp.