SBI Cards Sees Surge in Open Interest Amid Increased Trading Activity
SBI Cards & Payment Services Ltd has seen a significant rise in open interest, indicating increased trading activity. The stock is trading near its 52-week high and has outperformed its sector, with consecutive gains over the past eight days. Investor participation has also surged, reflecting strong market liquidity.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a notable increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 35,770 contracts, marking a rise of 3,663 contracts or 11.41% from the previous open interest of 32,107. The trading volume for the day reached 29,523 contracts, contributing to a futures value of approximately Rs 92,027 lakhs.In terms of price performance, SBI Cards is currently trading just 0.7% below its 52-week high of Rs 926. The stock has shown resilience, outperforming its sector by 0.79% today, and has recorded consecutive gains over the past eight days, accumulating a total return of 13.24% during this period. Additionally, SBI Cards is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Investor participation has also increased, with a delivery volume of 6.85 lakh shares on April 21, reflecting a 37.3% rise compared to the 5-day average. With a market capitalization of Rs 87,662.79 crore, SBI Cards continues to demonstrate robust liquidity, supporting trade sizes of up to Rs 1.73 crore. Overall, the stock's performance today underscores its strong market position within the Finance/NBFC sector.
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