SBI Cards Sees Surge in Open Interest, Indicating Increased Market Engagement
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, reaching 24,677 contracts, alongside a trading volume of 26,951 contracts. Despite a slight decline in price performance, the stock remains above key moving averages, indicating sustained market engagement and favorable liquidity conditions.
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 24,677 contracts, up from the previous 20,629 contracts, marking a change of 4,048 contracts or a 19.62% increase. The trading volume for the day reached 26,951 contracts, indicating robust participation in the market.In terms of price performance, SBI Cards underperformed its sector by 0.31%, with the stock hitting an intraday low of Rs 949.5, a decline of 2.65%. Despite this dip, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a longer-term positive trend. Additionally, the delivery volume has seen a rise of 14.02% compared to the 5-day average, with a total delivery volume of 6.03 lakh shares.
The liquidity of SBI Cards remains favorable, with a trading capacity sufficient for a trade size of Rs 2.2 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 engagement from market participants.
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