Union Bank of India Sees Surge in Open Interest Amid Increased Market Activity

Union Bank of India has experienced a notable increase in open interest today, signaling heightened activity in its futures market. The latest open interest stands at 36,481 contracts, reflecting a rise of 4,061 contracts or 12.53% from the previous open interest of 32,420. This surge coincides with a trading volume of 26,141 contracts, indicating robust participation in the market.
In terms of price performance, Union Bank of India has underperformed its sector by 2.22%, with the stock reaching an intraday low of Rs 141, marking a decline of 3.73%. The weighted average price suggests 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 significant increase in delivery volume, which rose by 64.94% compared to the 5-day average, reaching 85.14 lakh shares on July 18. With a market capitalization of Rs 1,09,275.06 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 shift in market dynamics for the stock.