“The open interest in Bank of Baroda futures by number of shares is at a lifetime high and in SBI it is at the highest since September 2020,” said Siddarth Bhamre, director-alternative investments and research at InCred Equities. “If SBI crosses the previous lifetime high, then it can see a substantial upside. SBI shares, which rose 2.4% to close at Rs 411 on Monday, touched a lifetime high of ?427.70 on February 18 this year.
Nifty PSU Bank index gained 2% to close at 2,398.15 on Monday, with Punjab National Bank, Central Bank,
Indian Bank, Union Bank and SBI gaining 2-5%.
In the ongoing May series, SBI s shares are up 14.6% while Bank of Baroda s shares are up nearly 22%. Punjab National Bank s shares are up 13.5% during the same period.