SBI Cards Sees 10.06% Surge in Open Interest Amid Increased Trading Activity

SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 37,276 contracts, up from the previous 33,869, marking a change of 3,407 contracts or a 10.06% increase. The trading volume for the day reached 58,803 contracts, indicating robust market engagement.
In terms of price performance, SBI Cards has outperformed its sector by 2.78%, with a notable 1-day return of 2.33%. The stock has shown consistent gains over the past four days, accumulating a total return of 5.97% during this period. Today, it reached an intraday high of Rs 938, reflecting a 3.63% increase.

SBI Cards 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 October 7 was recorded at 6.1 lakh shares, a 53.37% increase compared to the 5-day average, indicating rising investor participation. The stock's market capitalization is approximately Rs 87,538 crore, placing it in the mid-cap category. Overall, the notable spurt in open interest and positive price movements highlight the stock's active trading environment.