SBI Cards Sees Surge in Open Interest Amid Increased Market Activity
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 21,203 contracts, alongside a trading volume of 14,416 contracts. The stock is trading near its 52-week high and has shown strong upward momentum, despite a decline in investor participation in delivery volume.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 21,203 contracts, marking a rise of 3,070 contracts or 16.93% from the previous open interest of 18,133. This surge coincides with a trading volume of 14,416 contracts, indicating robust market engagement.In terms of price performance, SBI Cards is currently trading close to its 52-week high, just 0.36% away from Rs 930.65. The stock has outperformed its sector by 1.05% today and has shown a positive trend over the last two days, gaining 2.1% during this period. Notably, SBI Cards is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward momentum.
However, it is worth noting a decline in investor participation, with delivery volume dropping by 56.49% compared to the 5-day average. Despite this, the stock remains liquid enough for trades of Rs 1.25 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading environment for SBI Cards & Payment Services.
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