Union Bank of India Sees Surge in Open Interest, Indicating Market Activity Shift

Union Bank of India has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 37,194 contracts, marking a significant rise of 4,287 contracts or 13.03% from the previous open interest of 32,907. The trading volume for the day reached 18,339 contracts, contributing to a total futures value of approximately Rs 69,150.27 lakhs.
In terms of price performance, Union Bank of India has underperformed its sector by 0.95%, continuing a downward trend with a 2.93% decline over the past four days. The stock is currently trading above its 200-day moving average but below its 5-day, 20-day, 50-day, and 100-day moving averages. The stock's delivery volume has shown a positive trend, with a delivery volume of 40.13 lakhs on August 22, reflecting a 6.73% increase compared to the 5-day average.

With a market capitalization of Rs 1,01,839.93 crore, Union Bank of India maintains a high dividend yield of 3.49%. Overall, the increase in open interest indicates a shift in market dynamics, warranting attention from market participants.