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 and trading volume, indicating increased market activity. The stock's delivery volume also surged significantly, while it remains a key player in the public sector banking industry, despite underperforming its sector in price performance.
Union Bank of India has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 36,037 contracts, up from the previous 32,420 contracts, marking a change of 3,617 contracts or an 11.16% increase. The trading volume for the day reached 23,861 contracts, contributing to a total futures value of approximately Rs 32,603.42 lakhs.In terms of price performance, Union Bank of India underperformed its sector by 1.8%, with the stock hitting an intraday low of Rs 141, representing a decline of 3.73%. The weighted average price indicates that more volume was traded closer to this low price. While the stock is currently above its 100-day and 200-day moving averages, it remains below the 5-day, 20-day, and 50-day moving averages.
Additionally, the stock has seen a notable rise in delivery volume, with 85.14 lakh shares delivered on July 18, reflecting a 64.94% increase compared to the 5-day average. With a market capitalization of Rs 1,09,076.59 crore, Union Bank of India remains a significant player in the public sector banking industry. Overall, the increase in open interest and trading volume highlights a notable shift in market dynamics for the stock.
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