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

Union Bank of India has experienced a significant increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 25,734 contracts, up from the previous figure of 22,595, marking a change of 3,139 contracts or a 13.89% increase. The trading volume for the day reached 31,509 contracts, indicating robust participation.
In terms of price performance, Union Bank of India has shown a slight decline of 0.93% today, aligning closely with the sector's performance, which saw a decrease of 0.91%. The stock reached an intraday high of Rs 158.65, representing a gain of 3.58% at its peak. Notably, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong underlying trend.

Additionally, the delivery volume has surged to 1.83 crore shares, reflecting a 167.76% increase compared to the 5-day average. With a market capitalization of Rs 1,15,832.33 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.