SBI Cards Sees Surge in Open Interest Amid Increased Trading Activity
SBI Cards & Payment Services Ltd has seen a notable rise in open interest, indicating increased trading activity. The stock has underperformed its sector and opened lower, despite remaining above several moving averages. Delivery volume has also increased, reflecting heightened investor participation in the stock.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting notable trading activity in the stock. The latest open interest stands at 29,592 contracts, up from the previous open interest of 23,944 contracts, marking a change of 5,648 contracts or a 23.59% increase. The trading volume for the day reached 44,955 contracts, contributing to a total futures value of approximately Rs 83,440.82 lakhs.In terms of price performance, SBICARD has underperformed its sector by 4.15%, opening the day with a loss of 5.56%. The stock touched an intraday low of Rs 860, representing a decline of 7.18%. Despite this downturn, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average.
The finance/NBFC sector overall has seen a decline of 2.05%. Notably, delivery volume has increased by 10.23% compared to the 5-day average, indicating rising participation in the stock. With a market capitalization of Rs 82,853.68 crore, SBI Cards & Payment Services continues to be a significant player in the finance sector.
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