Union Bank of India Sees Surge in Open Interest Amid Increased Trading Activity
Union Bank of India has seen a notable rise in open interest, reaching 20,748 contracts, alongside a trading volume of 13,281 contracts. The stock has outperformed its sector and is trading above multiple moving averages, indicating a strong upward trend despite a decline in delivery volume.
Union Bank of India has experienced a significant increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 20,748 contracts, up from the previous 18,529, marking a change of 2,219 contracts or an 11.98% increase. This surge in open interest coincides with a trading volume of 13,281 contracts, indicating robust market engagement.In terms of price performance, Union Bank of India has outperformed its sector by 1.89%, with the stock reaching an intraday high of Rs 147.9, representing a gain of 4.81% for the day. The weighted average price suggests that more volume was traded closer to the lower end of the price range. Notably, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong upward trend.
Despite a decline in delivery volume, which has fallen by 60.08% compared to the 5-day average, the liquidity remains adequate for trades of Rs 2.87 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest and the stock's performance metrics highlight a dynamic trading environment for Union Bank of India.
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