Shriram Finance Sees 14.3% Surge in Open Interest, Reaching 83,707 Contracts
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 83,707 contracts, reflecting a rise of 10,471 contracts or 14.3% from the previous open interest of 73,236. This uptick coincides with a trading volume of 28,653 contracts, indicating active market participation.In terms of financial metrics, the total futures value is reported at approximately Rs 92,547.41 lakhs, while the options value is notably high at Rs 5,331,855,193 lakhs, bringing the total value to Rs 93,192.11 lakhs. The underlying value of the stock is currently at Rs 610.
Despite this surge in open interest, Shriram Finance's stock has underperformed its sector by 0.73% today, with a 1D return of -0.05%. The stock is trading above its 20-day moving average but below its 5-day, 50-day, 100-day, and 200-day moving averages. Additionally, delivery volume has decreased by 0.73% compared to the 5-day average, indicating a decline in investor participation.
Overall, the notable increase in open interest highlights a shift in market dynamics for Shriram Finance, amidst a backdrop of varied performance indicators.
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