Yes Bank Sees Surge in Open Interest Amidst Trading Activity and Price Challenges
Yes Bank Ltd. has seen a significant rise in open interest, reaching 30,942 contracts, alongside a trading volume of 9,092 contracts today. Despite recent price performance challenges and trading below key moving averages, investor participation has increased, indicating a notable shift in trading dynamics.
Yes Bank Ltd. has experienced a notable increase in open interest (OI) today, reflecting heightened activity in its trading. The latest OI stands at 30,942 contracts, marking an increase of 2,814 contracts or 10.0% from the previous OI of 28,128. The trading volume for the day reached 9,092 contracts, contributing to a total futures value of approximately Rs 27,931.02 lakhs and an options value of around Rs 1,303,480.62 lakhs, culminating in a total value of Rs 28,326.45 lakhs.In terms of price performance, Yes Bank is currently trading at Rs 16, which is 4.81% away from its 52-week low of Rs 16.02. The stock has underperformed its sector by 1.7% today and has seen a consecutive decline over the past three days, with a total drop of 3.44% during this period. Additionally, Yes Bank is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a challenging market position.
Despite these challenges, there has been a rise in investor participation, with a delivery volume of 6.14 crore on March 26, reflecting a 17.65% increase compared to the 5-day average. The liquidity remains adequate for trades sized at Rs 3.63 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in trading dynamics for Yes Bank, amidst a backdrop of recent price performance challenges.
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