Punjab National Bank Sees Surge in Open Interest Amid Increased Trading Activity
Punjab National Bank has seen a notable rise in open interest, reaching 55,097 contracts, alongside a trading volume of 64,879 contracts, indicating increased market participation. The stock has outperformed its sector and demonstrated a consistent upward trend, with significant delivery volume and a strong market capitalization.
Punjab National Bank (PNB) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 55,097 contracts, up from the previous figure of 48,954, marking a change of 6,143 contracts or a 12.55% increase. The trading volume for the day reached 64,879 contracts, indicating robust participation in the market.In terms of price performance, PNB has outperformed its sector by 0.52%, with the stock gaining 2.32% on the day. Over the past week, PNB has shown a consistent upward trend, rising 7.97% over the last seven days. The stock reached an intraday high of Rs 109.2, reflecting a 3.19% increase during the session. Notably, PNB is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong bullish trend.
Additionally, the stock has seen a remarkable rise in delivery volume, with 3.06 crore shares delivered on May 30, a 352.88% increase compared to the 5-day average. With a market capitalization of Rs 1,24,445.59 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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