SBI Cards Sees 10.54% Surge in Open Interest Amid Increased Futures Activity

SBI Cards & Payment Services Ltd (SBICARD) has experienced a notable increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 37,439 contracts, up from the previous figure of 33,869, marking a change of 3,570 contracts or a percentage increase of 10.54%. The trading volume for the day reached 44,485 contracts, indicating robust market engagement.
In terms of price performance, SBI Cards has outperformed its sector by 3.17%, with the stock gaining 6.43% over the past four days. Today, it achieved an intraday high of Rs 938, representing a 3.63% 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 October 7 was recorded at 6.1 lakh shares, which is a significant 53.37% increase compared to the 5-day average delivery volume. With a market capitalization of Rs 87,538 crore, SBI Cards remains a liquid stock, suitable for trades up to Rs 1.95 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest and positive price movements highlight the stock's current market dynamics.