SBI Cards Sees 16.34% Surge in Open Interest Amid Trading Activity

SBI Cards & Payment Services Ltd (SBICARD), a prominent player in the Non-Banking Financial Company (NBFC) sector, has experienced a significant increase in open interest today. The latest open interest stands at 45,356 contracts, reflecting a rise of 6,371 contracts or 16.34% from the previous open interest of 38,985. This surge coincides with a trading volume of 81,406 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, SBI Cards has shown a slight decline of 0.40% today, continuing a trend of consecutive losses over the past two days, during which it has dropped by 0.15%. The stock reached an intraday high of Rs 965, marking a 3.02% increase at its peak. Notably, SBI Cards is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a robust position relative to these key indicators.

Despite the recent decline in delivery volume, which has fallen by 86.62% against the 5-day average, the stock remains liquid enough for trades of Rs 1.22 crore, based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for SBI Cards, reflecting ongoing developments in the stock's trading landscape.