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's trading volume reached 55,404 contracts, while its market capitalization stands at Rs 82,806.11 crore. Despite recent price declines, it remains above several key moving averages.
SBI Cards & Payment Services Ltd (SBICARD) has experienced a significant increase in open interest today, reflecting heightened trading activity in the stock. The latest open interest stands at 31,263 contracts, marking a notable rise of 7,319 contracts or 30.57% from the previous open interest of 23,944. The trading volume for the day reached 55,404 contracts, indicating robust participation in the market.In terms of price performance, SBICARD has underperformed its sector by 4.49%, opening the day with a loss of 5.56%. The stock hit an intraday low of Rs 860, down 7.18% from the previous close. Despite this decline, 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 liquidity of SBICARD is supported by a delivery volume of 763,000 shares on April 24, which has increased by 10.23% compared to the five-day average. With a market capitalization of Rs 82,806.11 crore, SBI Cards & Payment Services continues to hold a significant position in the Finance/NBFC sector. Overall, the increase in open interest suggests a shift in market dynamics, warranting close observation.
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