Poonawalla Fincorp Sees Significant Surge in Open Interest Amid Increased Trading Activity

Poonawalla Fincorp Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 17,934 contracts, reflecting a rise of 2,042 contracts or 12.85% from the previous open interest of 15,892. This surge in open interest comes alongside a trading volume of 57,915 contracts, indicating heightened activity in the stock.
In terms of price performance, Poonawalla Fincorp opened with a gain of 2.02% and reached an intraday high of Rs 444.9, marking a 7.65% increase. The stock has notably outperformed its sector by 3.78% today, reversing a four-day decline. The weighted average price suggests that more volume was traded closer to the lower price range, while the stock remains above its 100-day and 200-day moving averages, yet below its 5-day, 20-day, and 50-day moving averages.

With a market capitalization of Rs 33,151 crore, Poonawalla Fincorp continues to demonstrate liquidity, supporting a trade size of Rs 1.63 crore based on 2% of the five-day average traded value. Overall, the notable increase in open interest and positive price movement highlight a dynamic trading environment for Poonawalla Fincorp.