SBI Cards Sees Significant Open Interest Surge Amid Active Market Participation
SBI Cards & Payment Services Ltd has seen a significant rise in open interest, reaching 33,323 contracts, alongside a trading volume of 16,578 contracts. Despite recent price declines and a notable drop in delivery volume, the stock remains liquid for trading, indicating active market engagement.
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 33,323 contracts, reflecting a rise of 3,543 contracts or 11.9% from the previous open interest of 29,780. This surge comes alongside a trading volume of 16,578 contracts, indicating active market participation.In terms of price performance, SBI Cards has underperformed its sector by 1.72%, with the stock recording a 1D return of -2.14%. Over the past two days, the stock has faced consecutive declines, totaling a drop of 5.83%. The intraday low reached Rs 931, marking a decrease of 2.32%. While the stock remains above its 50-day, 100-day, and 200-day moving averages, it is currently below its 5-day and 20-day moving averages.
Additionally, the delivery volume has seen a significant decline, falling by 45.96% against the 5-day average. Despite these fluctuations, the stock maintains sufficient liquidity for trades sized at Rs 6.23 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, reflecting ongoing developments in the stock's trading activity.
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