Surge in Open Interest Signals Increased Trading Activity for Punjab National Bank
Punjab National Bank has seen a notable rise in open interest, reaching 47,470 contracts, alongside a trading volume of 55,013 contracts. The stock has outperformed its sector and is trading above multiple moving averages, indicating strong market engagement and investor participation, with a market capitalization of Rs 1,21,480.41 crore.
Punjab National Bank (PNB) has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 47,470 contracts, up from the previous 41,395, marking a change of 6,075 contracts or a 14.68% increase. This surge in open interest coincides with a trading volume of 55,013 contracts, indicating robust market engagement.In terms of price performance, PNB has outperformed its sector by 1.19%, with the stock gaining 5.75% over the past six days. Today, it reached an intraday high of Rs 106.2, reflecting a 3.8% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
Additionally, the delivery volume on May 29 was recorded at 1.02 crore, which is a notable 68.2% increase compared to the 5-day average delivery volume, indicating rising investor participation. With a market capitalization of Rs 1,21,480.41 crore, PNB remains a significant player in the public sector banking industry. Overall, the increase in open interest and trading volume highlights a dynamic trading environment for Punjab National Bank.
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