Kotak Mahindra Bank Ltd has seen a notable rise in open interest, reaching 131,242 contracts, up from 118,387, marking a 10.86% increase with a trading volume of 54,645 contracts, indicating increased market activity. Despite this, the bank’s stock has underperformed its sector, declining 1.23% in a single day and lagging by 0.4% compared to sector peers.
Currently, the stock trades below its 5-day, 20-day, 50-day, and 100-day moving averages but remains above the 200-day moving average. Delivery volumes have dropped by 10.23% compared to the 5-day average, with 20.6 lakh shares delivered on August 21.
Kotak Mahindra Bank holds a strong market capitalization of Rs 3,96,292.64 crore, maintaining its position as a key player in the private banking sector. Trading liquidity remains sufficient, with a trade size of Rs 12.71 crore, about 2% of the 5-day average traded value. This rise in open interest signals shifting market dynamics for Kotak Mahindra Bank, drawing investor attention.
