SBI Cards Sees Surge in Open Interest Amid Mixed Performance Landscape
SBI Cards & Payment Services Ltd has seen a significant rise in open interest, reaching 31,924 contracts, alongside a trading volume of 15,710 contracts. While the stock is close to its 52-week high, it has underperformed its sector. Investor participation has declined, with delivery volume down by 50%.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 31,924 contracts, up from the previous open interest of 28,602 contracts, marking a change of 3,322 contracts or an 11.61% increase. The trading volume for the day reached 15,710 contracts, contributing to a total futures value of approximately Rs 49,559.59 lakhs.In terms of price performance, SBI Cards is currently trading just 2.01% away from its 52-week high of Rs 930.65. Despite this proximity to its peak, the stock has underperformed its sector, which has gained 2.66% today, while SBI Cards recorded a 1.40% increase. The stock has shown resilience, gaining 3.06% over the past two days. Additionally, it is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong trend.
However, there has been a notable decline in investor participation, with delivery volume dropping by 50% compared to the 5-day average. Overall, SBI Cards & Payment Services Ltd continues to demonstrate significant trading activity amidst a mixed performance landscape.
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