Union Bank of India Sees Surge in Open Interest Amid Trading Activity Shift

Union Bank of India has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 24,069 contracts, up from the previous figure of 21,721, marking a change of 2,348 contracts or a 10.81% increase. The trading volume for the day reached 17,882 contracts, contributing to a total futures value of approximately Rs 43,678.56 lakhs and an options value of around Rs 5,418.30 crores, culminating in a total value of Rs 44,228.93 lakhs.
In terms of price performance, Union Bank of India has underperformed its sector by 1.37%, with the stock recording a 1D return of -2.46%. Over the past two days, the stock has seen a consecutive decline, resulting in a total drop of 5.54%. The intraday low was noted at Rs 120, reflecting a decrease of 2.72%. While the stock is currently trading above its 20-day, 50-day, and 100-day moving averages, it remains below its 5-day and 200-day moving averages.

Overall, the increase in open interest alongside the stock's recent performance highlights a significant shift in trading dynamics for Union Bank of India, warranting attention from market participants.