Surge in Open Interest Signals Increased Market Activity for Aditya Birla Fashion & Retail
Aditya Birla Fashion & Retail Ltd (ABFRL) has seen a notable rise in open interest, reaching 18,773 contracts today. Despite this activity, the stock hit a new 52-week low and has underperformed its sector. Investor participation is declining, with a significant drop in delivery volume observed.
Aditya Birla Fashion & Retail Ltd (ABFRL) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 18,773 contracts, up from the previous 16,014 contracts, marking a change of 2,759 contracts or a 17.23% increase. The trading volume for the day reached 6,888 contracts, indicating robust engagement in the market.In terms of price performance, ABFRL hit a new 52-week low of Rs. 85.65 today. The stock has underperformed its sector, showing a 1.14% decline compared to a 0.67% drop in the sector and a 0.25% decrease in the Sensex. Additionally, ABFRL is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a downward trend in its price momentum.
Investor participation appears to be waning, with a delivery volume of 52.11 lakh shares on May 29, down 46.73% from the 5-day average. Despite these challenges, the stock remains liquid enough for trades of Rs. 2.79 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amid declining price performance highlights a complex market scenario for Aditya Birla Fashion & Retail.
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