Surge in Open Interest Signals Increased Trading Activity for Union Bank of India
Union Bank of India has seen a significant rise in open interest, reaching 31,682 contracts, alongside a trading volume of 14,745 contracts, indicating increased market activity. Despite underperforming its sector, the stock has attracted higher investor participation, with a notable increase in delivery volume.
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 31,682 contracts, up from the previous figure of 28,537, marking a change of 3,145 contracts or an 11.02% increase. This surge in open interest comes alongside a trading volume of 14,745 contracts, indicating a robust engagement from market participants.In terms of price performance, Union Bank of India has underperformed its sector by 2.36%, with a one-day return of -1.62%. The stock is currently trading below its 20-day moving average but remains above its 5-day, 50-day, 100-day, and 200-day moving averages. The underlying value of the stock is reported at Rs 144.
Additionally, the stock has shown rising investor participation, with a delivery volume of 58.66 lakh shares on June 24, which is a significant increase of 47.93% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,12,023 crore, Union Bank of India continues to maintain a liquid trading environment, suitable for transactions up to Rs 3.08 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Union Bank of India.
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