SBI Cards Sees 15.34% Surge in Open Interest Amid Increased Futures Activity
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 48,292 contracts, marking a significant rise of 6,423 contracts or 15.34% from the previous open interest of 41,869. This surge coincides with a trading volume of 64,905 contracts, indicating robust participation in the market.Despite this uptick in open interest, the stock has underperformed its sector, showing a decline of 0.92% on the day, while the broader sector and Sensex reported minor declines of 0.09% and 0.23%, respectively. Over the past three days, SBI Cards has faced consecutive losses, with a total decline of 1.69%. The stock reached an intraday low of Rs 890.75, reflecting a decrease of 4.08% at one point during the trading session.
In terms of liquidity, the stock remains accessible for trading, with a delivery volume of 821,000 shares on October 23, which is a substantial increase of 130.19% compared to its five-day average. Overall, the increase in open interest highlights a shift in market dynamics for SBI Cards, amidst a backdrop of recent price declines.
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