Union Bank of India Sees 10.41% Surge in Open Interest, Reaching 29,020 Contracts

Union Bank of India has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 29,020 contracts, marking a rise of 2,736 contracts or 10.41% from the previous open interest of 26,284. The trading volume for the day reached 17,394 contracts, contributing to a total futures value of approximately Rs 27,658.56 lakhs and an options value of around Rs 8,206.22 crores, bringing the total value to Rs 29,847.38 lakhs.
In terms of price performance, Union Bank of India has underperformed its sector by 2.51%, with the stock falling after three consecutive days of gains. The stock touched an intraday low of Rs 135.29, reflecting a decline of 2.49%. While the stock is currently above its 20-day, 50-day, and 200-day moving averages, it remains below the 5-day and 100-day moving averages. Additionally, delivery volume has decreased by 39.86% compared to the 5-day average, indicating a decline in investor participation.

Overall, the increase in open interest alongside the recent price movements highlights a dynamic trading environment for Union Bank of India, warranting close observation of future developments.