Shriram Finance Sees Surge in Open Interest Amid Mixed Market Performance
Shriram Finance Ltd has seen a notable rise in open interest, reaching 74,413 contracts, alongside a trading volume of 22,726 contracts. Despite this activity, the stock is underperforming its sector and trading below key moving averages, indicating challenges in price performance and a decline in delivery volume.
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 74,413 contracts, reflecting a rise of 6,966 contracts or 10.33% from the previous open interest of 67,447. This uptick in open interest coincides with a trading volume of 22,726 contracts, indicating active participation in the market.In terms of financial metrics, Shriram Finance is currently trading at an underlying value of Rs 614, with a total futures value of approximately Rs 60,760.62 lakhs and an options value of around Rs 5,665,511.63 lakhs. Despite this activity, the stock has underperformed its sector by 0.9% today, with a 1-day return of -0.97%. Additionally, it is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a downward trend in price performance.
The delivery volume has also seen a decline, with a reported 25.69 lakh shares delivered on August 21, down by 19.16% compared to the 5-day average. Overall, while Shriram Finance shows notable activity in open interest, its current performance metrics indicate challenges in maintaining upward momentum in the market.
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