Aditya Birla Fashion Sees Surge in Open Interest Amid Mixed Market Momentum
Aditya Birla Fashion & Retail Ltd has seen a significant rise in open interest, indicating increased market activity. The stock's trading volume reached 26,205 contracts, while its performance has shown mixed momentum, trading above some moving averages but below others. Investor participation has slightly decreased recently.
Aditya Birla Fashion & Retail Ltd (ABFRL) has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 42,122 contracts, up from the previous figure of 37,187, marking a change of 4,935 contracts or a 13.27% increase. The trading volume for the day reached 26,205 contracts, indicating robust participation in the market.In terms of performance, ABFRL has outperformed its sector by 0.51%, although it has seen a slight decline of 0.29% in its stock price today. The stock has recently reversed its trend after two consecutive days of gains. Currently, it is trading above its 5-day moving averages but below the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting mixed momentum.
Investor participation appears to be waning, with a delivery volume of 22.68 lakh shares on June 23, reflecting a decrease of 1.96% compared to the 5-day average. The stock remains liquid enough for trades sized at Rs 0.8 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Aditya Birla Fashion & Retail.
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