Karur Vysya Bank led four Indian stocks in futures open-interest growth on Nov. 2, as positions rose across listed expiries and near-month futures prices moved in different directions.
Strota’s screen, which says it uses National Stock Exchange of India end-of-day data, showed the bank’s open interest at 1,078,800 share-equivalent units, up 635,500, or 143.36%. Its near-month futures price fell 2.15% to ₹343.65.
Syrma SGS Technology recorded 1,380,275 share-equivalent units, a 96.17% increase, while its near-month futures price fell 8.04% to ₹1,506.80. StockLearn and Strota data put City Union Bank at 33.41 lakh units, up 54.52%, with its near-month price down 1.90% to ₹210.95.
Data Patterns (India) had 176,125 share-equivalent units, up 31.07%, and a 1.87% increase in near-month futures to ₹3,832.30, Strota’s data showed. The open-interest totals combine listed expiries and express the shares represented; they are not counts of futures contracts.
Open interest measures futures positions that remain open. A rise alone does not show whether traders expect prices to rise or fall, so screeners compare it with price changes. StockEdge calls rising open interest paired with a falling price “New Short,” and rising open interest alongside a rising price “New Long.”
By that convention, Karur Vysya Bank, Syrma SGS Technology and City Union Bank showed the “New Short” pattern, while Data Patterns showed “New Long.” The terms describe that day’s readings rather than what prices may do later.
Data Patterns directors are due to take up unaudited financial statements for the quarter and half-year through Sept. 30 at a Nov. 6 meeting, according to a company filing attached to a BSE announcement.
