SJVN Ltd. Sees Surge in Open Interest Amidst Challenging Market Conditions
SJVN Ltd. has seen a significant rise in open interest, reaching 11,125 contracts, indicating increased trading activity. Despite this, the company's stock has underperformed, experiencing a decline over the past three days. The stock remains above some moving averages while showing increased liquidity in trading.
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 11,125 contracts, marking a notable rise of 1,998 contracts or 21.89% from the previous open interest of 9,127. The trading volume for the day reached 8,080 contracts, contributing to a total futures value of approximately Rs 9,253.35 lakhs.Despite this surge in open interest, SJVN's stock performance has been underwhelming, underperforming its sector by 3.46%. The stock has faced a consecutive decline over the past three days, with a total drop of 5%. Today, it opened with a loss of 3.97%, hitting an intraday low of Rs 97.20, which represents a decrease of 4.86%.
In terms of moving averages, SJVN's stock is currently above its 50-day and 100-day moving averages but below the 5-day, 20-day, and 200-day averages. Additionally, the stock has shown increased liquidity, with a delivery volume of 21.99 lakh shares, up 18.22% compared to the 5-day average. Overall, the notable rise in open interest amidst a challenging trading environment highlights the dynamic nature of SJVN's market activity.
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