Shriram Finance Ltd Sees 14.38% Surge in Open Interest, Reaching 98,761
Shriram Finance Ltd has seen a notable increase in open interest, reaching 98,761 contracts, alongside a trading volume of 47,357 contracts. The stock has outperformed its sector for seven consecutive days, with a total return of 7.52%, and demonstrates strong liquidity and positive performance metrics.
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 98,761 contracts, reflecting a rise of 12,413 contracts or 14.38% from the previous open interest of 86,348. This surge in open interest coincides with a trading volume of 47,357 contracts, indicating heightened activity in the stock.In terms of performance, Shriram Finance has outperformed its sector by 0.64% today, marking its seventh consecutive day of gains with a total return of 7.52% over this period. 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. Additionally, the delivery volume reached 51.77 lakh shares on October 27, which is an impressive 80.17% increase compared to the 5-day average delivery volume.
With a market capitalization of Rs 1,35,289 crore, Shriram Finance continues to demonstrate robust liquidity, supporting trade sizes of up to Rs 8.81 crore based on 2% of the 5-day average traded value. Overall, the notable rise in open interest and consistent performance metrics highlight the stock's current market dynamics.
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