Surge in Open Interest Signals Increased Trading Activity for Aditya Birla Fashion & Retail
Aditya Birla Fashion & Retail Ltd has seen a significant rise in open interest, reaching 21,049 contracts, alongside a trading volume of 14,720 contracts. The stock recently hit a 52-week low and has been on a downward trend, underperforming its sector and trading below key moving averages.
Aditya Birla Fashion & Retail Ltd (ABFRL) has experienced a notable increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 21,049 contracts, up from the previous figure of 18,840, marking a change of 2,209 contracts or an 11.73% increase. The trading volume for the day reached 14,720 contracts, indicating robust participation in the market.In terms of price performance, ABFRL hit a new 52-week low of Rs 86.2, down 2.65% from the previous day. The stock has been on a downward trend, underperforming its sector by 1.34% and recording a significant decline of 69.52% over the past five days. The weighted average price suggests that more volume was traded closer to this low price point. Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
Despite a delivery volume of 94.52 lakh shares on May 23, which has decreased by 0.34% compared to the 5-day average, the stock remains liquid enough for trades of Rs 2.15 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst declining prices highlights a significant shift in market dynamics for Aditya Birla Fashion & Retail.
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