Aditya Birla Fashion Sees Surge in Open Interest Amid Market Challenges
Aditya Birla Fashion & Retail Ltd has seen a significant rise in open interest, reaching 18,116 contracts, alongside a trading volume of 5,265 contracts. The stock hit a new 52-week low, underperforming its sector and broader market indices, while also trading below key moving averages.
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 18,116 contracts, up from the previous 16,014, marking a change of 2,102 contracts or a 13.13% increase. This uptick comes alongside a trading volume of 5,265 contracts, indicating active participation in the market.In terms of price performance, ABFRL reached a new 52-week low of Rs 85.75 today, representing a decline of 2% from the previous session. The stock has underperformed its sector, showing a 1.31% drop, while the broader market, as indicated by the Sensex, fell by 0.39%. 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. Delivery volume has also seen a significant decline, falling by 46.73% against the 5-day average. Despite these challenges, the liquidity remains adequate for trades sized at Rs 2.79 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in trading activity for Aditya Birla Fashion & Retail amidst a challenging market environment.
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