Surge in Open Interest for Aditya Birla Fashion Signals Market Sentiment Shift
Aditya Birla Fashion & Retail Ltd (ABFRL) has seen a significant rise in open interest, reaching 17,696 contracts, alongside a trading volume of 4,439 contracts. The stock hit a new 52-week low and is trading below key moving averages, indicating a bearish trend in the market.
Aditya Birla Fashion & Retail Ltd (ABFRL) has experienced a notable increase in open interest today, reflecting a shift in market dynamics. The latest open interest stands at 17,696 contracts, up from the previous figure of 16,014, marking a change of 1,682 contracts or a 10.5% increase. This uptick in open interest comes alongside a trading volume of 4,439 contracts, indicating active participation in the derivatives market.In terms of price performance, ABFRL reached a new 52-week low of Rs. 85.85 today, underperforming its sector by 1.29%. The stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend. Additionally, the delivery volume has seen a significant decline, with a reported 52.11 lakh shares delivered on May 29, down 46.73% compared to the 5-day average.
With a market capitalization of Rs 10,482.09 crore, ABFRL operates within the garments and apparels industry. The liquidity remains adequate for trading, with a trade size of Rs 2.79 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market sentiment, warranting close observation of future developments.
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