City Union Bank led a Nov. 4 scan of Indian futures contracts, with open interest rising 24.47%, while separate data screens produced different readings for some stocks.
The StockEdge futures and options scan put City Union Bank first at 24.47%. Syrma SGS Technology followed at 20.80%, Karur Vysya Bank at 19.14%, Coromandel International at 13.77% and Sagility at 12.07%. Each of the five cleared the scan's 12% cutoff.
ClusterMicro's after-close scan matched those names and open-interest percentages. It also showed that every share advanced during the Nov. 4 session: City Union Bank rose 3.14%, Syrma SGS Technology 1.45%, Karur Vysya Bank 2.32%, Coromandel International 1.38% and Sagility 2.95%.
Open interest measures futures contracts that remain active. Screeners use “long buildup” for a session when open interest and the share price both rise. StockEdge has also used “New Long” when open interest and near-month futures prices rise together, and “New Short” when open interest rises as near-month futures prices fall. Those labels describe the day's figures; they do not establish an overall bullish position because each open contract pairs one long position with one short one.
TBTflow's end-of-day scan gave different open-interest readings for three of the companies: 24.42% for City Union Bank, 24.15% for Syrma SGS Technology and 23.90% for Karur Vysya Bank. City Union Bank's figure was below StockEdge's, while TBTflow's readings for Syrma SGS and Karur Vysya were higher. Coromandel International and Sagility did not appear on TBTflow's displayed long-buildup list. The scan did not explain why its readings or list differed.
ETMarkets' headline and gallery listed five stocks above the 12% threshold, while its introductory text referred to four.
Earlier EconoTimes coverage of a Nov. 2 scan also showed Karur Vysya Bank leading four Indian stocks in futures open-interest growth, with near-month futures prices moving in different directions. The earlier report on Indian futures open-interest growth explained that screeners pair price changes with open interest to describe daily positioning.
