RBL Bank Sees Surge in Open Interest Amid Mixed Performance Indicators
RBL Bank Ltd has seen a significant rise in open interest, reaching 57,421 contracts, alongside a trading volume of 86,294 contracts, indicating strong activity in the derivatives market. Despite underperforming its sector, the stock remains resilient, trading above key moving averages, though investor participation has declined.
RBL Bank Ltd, a mid-cap player in the private sector banking industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 57,421 contracts, marking a notable rise from the previous OI of 38,420 contracts, resulting in a change of 19,001 contracts or a percentage increase of 49.46%. The trading volume for the day reached 86,294 contracts, indicating robust activity in the derivatives market.In terms of price performance, RBL Bank has underperformed its sector by 0.39%, with a 1-day return of -0.42%. Despite this, the stock has shown resilience, trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a decline in investor participation, with a delivery volume of 36.05 lakh shares on June 24, down by 3.1% compared to the 5-day average.
The liquidity of RBL Bank remains adequate, with a trade size of Rs 4.53 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest reflects heightened activity in the stock, amidst a mixed performance landscape.
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