SBI Cards Sees Significant Open Interest Surge Amid Increased Investor Activity
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 22,203 contracts, alongside increased trading volume of 9,614 contracts. Despite trading below key moving averages and a slight recovery today, the stock's delivery volume has surged, indicating heightened investor engagement.
SBI Cards & Payment Services Ltd, a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 22,203 contracts, reflecting a rise of 2,346 contracts or 11.81% from the previous open interest of 19,857. This uptick in open interest comes alongside a trading volume of 9,614 contracts, indicating heightened activity in the stock.In terms of market performance, SBI Cards is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term. Despite this, the stock has shown a slight recovery today, gaining after two consecutive days of decline. The stock's 1-day return is recorded at -0.16%, while the sector's return is slightly lower at -0.19%.
Additionally, the stock has seen a notable increase in delivery volume, which rose by 135.11% compared to the 5-day average, indicating a rise in investor participation. With a market capitalization of Rs 75,128 crore, SBI Cards remains a liquid option for trades sized at Rs 1.51 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for SBI Cards, warranting attention from market participants.
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