SBI Cards Sees Significant Rise in Open Interest Amid Increased Market Activity

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 22,294 contracts, reflecting a rise of 2,437 contracts or 12.27% from the previous open interest of 19,857. This uptick in open interest coincides with a trading volume of 10,093 contracts, indicating active participation in the market.
In terms of financial metrics, the total futures value is reported at Rs 17,319.58 lakhs, while the options value is significantly higher at Rs 4,812.06 lakhs, bringing the total value to Rs 18,216.95 lakhs. The underlying value of the stock is noted at Rs 802.

Despite the increase in open interest, SBI Cards has shown a slight decline of 0.20% in its stock price today, which is in line with the sector's performance, as the sector index fell by 0.45%. The stock has gained after two consecutive days of decline, although it remains below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Notably, the delivery volume has surged by 135.11% compared to the 5-day average, suggesting a rise in trading activity. Overall, the increase in open interest highlights a significant shift in market dynamics for SBI Cards.