Shriram Finance Sees 12.91% Surge in Open Interest to 70,261 Contracts
Shriram Finance Ltd has seen a notable rise in open interest, reaching 70,261 contracts, alongside a trading volume of 72,281 contracts. The stock has outperformed its sector, achieving a total return of 5.3% over two days, with increased delivery volume and strong market capitalization reflecting heightened investor interest.
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 70,261 contracts, reflecting a rise of 8,031 contracts or 12.91% from the previous open interest of 62,230. This surge in open interest coincides with a trading volume of 72,281 contracts, indicating robust market activity.In terms of price performance, Shriram Finance has outperformed its sector by 4.6%, marking a consecutive gain over the last two days with a total return of 5.3% during this period. The stock reached an intraday high of Rs 646.7, representing a 4.97% increase. Additionally, it is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend.
The delivery volume on September 30 was recorded at 36.6 lakh shares, a notable increase of 58.11% compared to the 5-day average delivery volume, further highlighting rising investor participation. With a market capitalization of Rs 1,18,212 crore, Shriram Finance continues to demonstrate liquidity suitable for trades around Rs 4.28 crore. Overall, the notable spurt in open interest and strong performance metrics underscore the stock's current market position.
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