Shriram Finance Sees Significant Open Interest Surge Amid Increased Trading Activity

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 83,668 contracts, reflecting a rise of 11,479 contracts or 15.9% from the previous open interest of 72,189. This uptick in open interest comes alongside a trading volume of 61,139 contracts, indicating heightened activity in the stock.
In terms of price performance, Shriram Finance has underperformed its sector by 1.28%, with the stock reaching an intraday low of Rs 648.3, down 2.71%. Despite this, the stock remains above its 50-day, 100-day, and 200-day moving averages, although it is trading below its 5-day and 20-day moving averages. Notably, the delivery volume surged to 46.02 lakh shares on June 20, marking a 101.93% increase compared to the 5-day average delivery volume, suggesting a rise in investor participation.

With a market capitalization of Rs 1,22,460 crore, Shriram Finance continues to maintain liquidity suitable for trades of Rs 6.46 crore, reflecting its position as a large-cap entity in the financial market. The increase in open interest highlights a notable shift in market dynamics for the stock, warranting attention from market participants.