SJVN Ltd. Sees Surge in Open Interest Amidst Declining Stock Performance
SJVN Ltd. has seen a notable rise in open interest, reaching 12,879 contracts amid increased trading activity. Despite this, the company's stock has declined significantly today, underperforming compared to the sector. The stock remains above some moving averages, while liquidity appears favorable with increased delivery volume.
SJVN Ltd., a prominent player in the power industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 12,879 contracts, marking a substantial rise of 3,752 contracts or 41.11% from the previous open interest of 9,127. This surge coincides with a trading volume of 13,928 contracts, indicating robust market engagement.Despite this uptick in open interest, SJVN's stock has underperformed, declining by 5.34% today, which is notably worse than the sector's average decline of 0.59%. The stock opened with a loss of 3.97% and reached an intraday low of Rs 95.84, reflecting a 6.19% drop at its lowest point. The weighted average price suggests that more volume was traded closer to this low price.
In terms of moving averages, SJVN's stock is currently above the 50-day and 100-day moving averages but below the 5-day, 20-day, and 200-day averages. The liquidity remains favorable, with a delivery volume of 21.99 lakh shares, which has increased by 18.22% compared to the five-day average. Overall, while the increase in open interest indicates active trading, the stock's recent performance highlights ongoing challenges in the market.
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