Surge in Open Interest Signals Increased Trading Activity for Aditya Birla Fashion & Retail
Aditya Birla Fashion & Retail Ltd (ABFRL) has seen a notable rise in open interest, reaching 33,347 contracts, alongside a trading volume of 32,277 contracts. The stock hit a new 52-week low of Rs. 78.25, reflecting ongoing market activity despite recent price declines.
Aditya Birla Fashion & Retail Ltd (ABFRL) has experienced a significant increase in open interest today, reflecting notable trading activity in the garments and apparels sector. The latest open interest stands at 33,347 contracts, a substantial rise from the previous open interest of 20,058 contracts, marking a change of 13,289 contracts or 66.25%. The trading volume for the day reached 32,277 contracts, indicating robust participation in the market.In terms of price performance, ABFRL hit a new 52-week low of Rs. 78.25 today, reflecting a decline of 9.01% from the previous close. The stock has underperformed its sector by 7.7% and has seen a consecutive fall over the last two days, with a total decline of 9.64% during this period. The stock opened with a loss of 5% and has been trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
Despite the challenges, the stock remains liquid, with a delivery volume of 18.7 lakh shares on June 3, although this represents a significant drop of 67.82% compared to the 5-day average. Overall, the increase in open interest amidst a declining price trend highlights the current dynamics surrounding Aditya Birla Fashion & Retail Ltd.
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