SBI Cards Sees Surge in Open Interest Amidst Volatile Trading Conditions
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 39,518 contracts, alongside a trading volume of 26,050 contracts. The stock opened with a significant gain but has underperformed its sector recently. Delivery volume has decreased, indicating a complex market environment for the company.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 39,518 contracts, up from the previous open interest of 34,775, marking a change of 4,743 contracts or a 13.64% increase. The trading volume for the day reached 26,050 contracts, contributing to a total futures value of approximately Rs 25,876 lakhs.In terms of price performance, SBI Cards opened with a notable gain of 10%, reaching an intraday high of Rs 1,004.75. However, the stock has underperformed its sector by 0.86% and has seen a decline of 3.7% over the past two days. The stock's volatility was high today, with an intraday volatility of 9.07%, indicating fluctuating trading conditions.
Despite the increase in open interest, the stock has shown a decrease in delivery volume, which has fallen by 43.16% compared to the five-day average. Overall, SBI Cards remains a large-cap player in the Non-Banking Financial Company (NBFC) sector, with a market capitalization of Rs 85,285.43 crore. The current trading dynamics suggest a complex market environment for the stock.
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