SBI Cards Sees 10.17% Surge in Open Interest, Reaching 44,711 Contracts
SBI Cards & Payment Services Ltd has seen a significant rise in open interest, reaching 44,711, alongside a trading volume of 44,153. The stock has outperformed its sector and is trading above various moving averages, although investor participation has declined with a notable drop in delivery volume.
SBI Cards & Payment Services Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a notable increase in open interest today. The latest open interest stands at 44,711, reflecting a rise of 4,127 from the previous open interest of 40,584, marking a percentage change of 10.17%. The trading volume for the day reached 44,153, contributing to a futures value of approximately Rs 1,25,732.36 lakhs.In terms of price performance, SBI Cards has outperformed its sector by 1.53% today, with a 1D return of 0.67%. The stock has shown consistent gains over the past three days, accumulating a total return of 2.36% during this period. Furthermore, SBI Cards is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
However, it is worth noting a decline in investor participation, with delivery volume dropping by 53.84% compared to the 5-day average. Despite this, the stock remains liquid enough for trades sized at Rs 1.94 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight significant activity in SBI Cards today.
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