Surge in Open Interest Signals Increased Activity in Union Bank of India’s Derivatives Market

Union Bank of India has experienced a significant increase in open interest today, reflecting heightened activity in its derivatives market. The latest open interest stands at 23,773 contracts, up from the previous 21,524, marking a change of 2,249 contracts or a 10.45% increase. This surge in open interest coincides with a trading volume of 16,563 contracts, indicating robust participation in the market.
In terms of price performance, Union Bank of India has outperformed its sector by 1.91%, with a notable 3.89% return on the day. The stock has been on a positive trajectory, gaining for the last two consecutive days and accumulating a total return of 7.94% during this period. Today, the stock reached an intraday high of Rs 153.39, reflecting a 4.5% increase.

Union Bank is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend. Additionally, the stock's liquidity remains favorable, with a delivery volume of 1.78 crore shares on May 30, which is 266.17% higher than the 5-day average delivery volume. Overall, the increase in open interest and positive price movements highlight a dynamic trading environment for Union Bank of India.