Punjab National Bank Sees Surge in Open Interest Amid Increased Trading Activity
Punjab National Bank has seen a notable rise in open interest, reaching 54,637 contracts, alongside a trading volume of 56,737 contracts, indicating increased market participation. The stock has outperformed its sector and is trading above multiple moving averages, reflecting a strong bullish trend in the public sector banking industry.
Punjab National Bank (PNB) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 54,637 contracts, marking an increase of 5,683 contracts or 11.61% from the previous open interest of 48,954. The trading volume for the day reached 56,737 contracts, indicating robust participation in the market.In terms of price performance, PNB has outperformed its sector by 0.59%, with the stock gaining 2.62% on the day. Over the past week, PNB has shown a consistent upward trend, achieving a total return of 8.2% over the last seven days. The stock reached an intraday high of Rs 109.2, reflecting a 3.19% increase.
Additionally, PNB is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend. The delivery volume on May 30 was notably high at 3.06 crore shares, a substantial increase of 352.88% compared to the 5-day average. With a market capitalization of Rs 1,24,801.87 crore, PNB remains a significant player in the public sector banking industry. Overall, the increase in open interest and strong trading metrics highlight the current activity surrounding Punjab National Bank.
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