SBI Cards Sees Surge in Open Interest Amid Increased Trading Activity
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 21,335 contracts, alongside a trading volume of 16,050 contracts. The stock is near its 52-week high and has outperformed its sector, despite a decline in investor participation reflected in lower delivery volumes.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 21,335 contracts, marking a rise of 3,202 contracts or 17.66% from the previous open interest of 18,133. The trading volume reached 16,050 contracts, contributing to a futures value of approximately Rs 17,126.86 lakhs.In terms of price performance, SBI Cards is currently trading close to its 52-week high, just 0.39% away from Rs 930.65. The stock has outperformed its sector by 1.07% today, with a 1D return of 1.22%, while the sector and Sensex reported returns of 0.30% and -0.25%, respectively. Notably, SBI Cards has shown consistent gains over the past two days, accumulating a total return of 2.06%.
Despite this positive momentum, there has been a decline in investor participation, with delivery volume dropping by 56.49% compared to the five-day average. Nevertheless, the stock remains liquid, accommodating trade sizes of Rs 1.25 crore based on 2% of the five-day average traded value. Overall, the increase in open interest and the stock's performance metrics indicate a dynamic trading environment for SBI Cards.
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