Surge in Open Interest Signals Increased Trading Activity for Union Bank of India

Union Bank of India has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 33,313 contracts, up from the previous figure of 28,729, marking a change of 4,584 contracts or a 15.96% increase. This surge in open interest is accompanied by a trading volume of 13,314 contracts, indicating robust market engagement.
In terms of performance, Union Bank of India has outperformed its sector by 1.7%, with a one-day return of 1.38%. The stock is currently trading above its 5-day, 50-day, 100-day, and 200-day moving averages, although it remains below the 20-day moving average. The underlying value of the stock is noted at Rs 146, with a total futures value of approximately Rs 53,149.30 lakhs and an options value of around Rs 3,573.62 crores.

Additionally, the stock has shown rising investor participation, with a delivery volume of 48.74 lakhs on June 25, reflecting a 4.75% increase compared to the 5-day average. With a market capitalization of Rs 1,10,420.00 crores, Union Bank of India continues to maintain a liquid trading environment, suitable for transactions up to Rs 3.25 crores based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a dynamic trading landscape for Union Bank of India.