Shriram Finance Sees Surge in Open Interest Amid Active Market Participation
Shriram Finance Ltd has seen a notable rise in open interest, reaching 80,317 contracts, alongside a trading volume of 63,114 contracts, indicating active market engagement. The stock has outperformed its sector and is trading above key moving averages, although delivery volume has declined significantly.
Shriram Finance Ltd, 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 80,317 contracts, reflecting a rise of 9,643 contracts or 13.64% from the previous open interest of 70,674. This uptick in open interest comes alongside a trading volume of 63,114 contracts, indicating active market participation.In terms of price performance, Shriram Finance has outperformed its sector by 1.35%, with the stock reaching an intraday high of Rs 682, marking a 3.08% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
Despite this positive performance, there has been a notable decline in delivery volume, which fell by 39.14% compared to the 5-day average, with a delivery volume of 16.9 lakh shares recorded on June 23. The liquidity remains robust, with the stock being liquid enough for a trade size of Rs 5.68 crore, based on 2% of the 5-day average traded value.
In summary, Shriram Finance Ltd's notable increase in open interest and solid price performance highlight its current market dynamics, while the decline in delivery volume presents an interesting aspect of its trading activity.
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