Surge in Open Interest for ACC Ltd Amidst Ongoing Stock Underperformance

ACC Ltd, a prominent player in the Cement & Cement Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 25,952 contracts, reflecting a rise of 3,198 contracts or 14.05% from the previous open interest of 22,754. The trading volume for the day reached 9,141 contracts, indicating active participation in the market.
Despite this uptick in open interest, ACC's stock has underperformed relative to its sector, showing a decline of 1.68% today, compared to a sector decline of 0.46%. Over the past five days, the stock has faced consecutive losses, totaling a drop of 3.66%. Furthermore, ACC is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.

Investor participation appears to be waning, with delivery volume dropping to 48.79 thousand on May 29, a decrease of 56.85% against the 5-day average. The stock's liquidity remains adequate, with a trading capacity of Rs 0.83 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest amidst a challenging performance landscape highlights the complexities of ACC's current market position.