Surge in Open Interest Signals Increased Trading Activity for Punjab National Bank

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 70,254 contracts, marking an increase of 8,786 contracts or 14.29% from the previous open interest of 61,468. This surge in open interest coincides with a trading volume of 37,249 contracts, indicating robust participation in the market.
In terms of price performance, PNB has underperformed its sector by 0.29%, with a 1-day return of -0.82%. The stock has been on a downward trend, experiencing a consecutive fall over the last four days, resulting in a total decline of 4.84% during this period. Notably, while the stock is trading above its 200-day moving average, it remains below the 5-day, 20-day, 50-day, and 100-day moving averages.

Additionally, the stock has shown rising investor participation, with a delivery volume of 72.38 lakh shares on August 26, reflecting a 112.31% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 1,16,883 crore, PNB continues to maintain a liquid trading environment, suitable for transactions of approximately Rs 1.98 crore. Overall, the notable spurt in open interest highlights a dynamic trading landscape for Punjab National Bank.