Punjab National Bank Sees 10.69% Surge in Open Interest to 72,350 Contracts
Punjab National Bank (PNB) has seen a notable rise in open interest and trading volume, indicating increased market activity. The stock is trading close to its 52-week high and above key moving averages, reflecting strong investor participation and positioning within the public sector banking sector.
Punjab National Bank (PNB) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 72,350 contracts, up from the previous figure of 65,362, marking a change of 6,988 contracts or a 10.69% increase. The trading volume for the day reached 47,744 contracts, indicating robust participation in the market.In terms of price performance, PNB is currently trading just 2.76% below its 52-week high of Rs 120.2. The stock's performance today aligns with the broader sector, which has seen a decline of 0.98%, while PNB itself recorded a 1.23% drop. Notably, PNB is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong trend in its price movement.
Additionally, the stock has shown rising investor participation, with a delivery volume of 1.76 crore on October 23, reflecting a 116.14% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 1,34,203.10 crore, PNB remains a significant player in the public sector banking industry. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for Punjab National Bank.
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