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 32,085 contracts, alongside a trading volume of 17,640 contracts, indicating increased market activity. Despite underperforming its sector, the stock shows strong liquidity and a significant increase in delivery volume compared to recent averages.
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 32,085 contracts, up from the previous 28,537 contracts, marking a change of 3,548 contracts or an increase of 12.43%. The trading volume for the stock reached 17,640 contracts, indicating 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 -1.81%. The stock is currently valued at Rs 144, and while it is trading above its 5-day, 50-day, 100-day, and 200-day moving averages, it remains below the 20-day moving average. Notably, the delivery volume has seen a rise of 47.93% compared to the 5-day average, reaching 58.66 lakh shares on June 24.
The liquidity of Union Bank of India is also noteworthy, with the stock being liquid enough for a trade size of Rs 3.08 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest alongside the trading metrics highlights a dynamic trading environment for Union Bank of India.
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