Ambuja Cements Sees Significant Open Interest Surge Amid Increased Derivatives Activity
Ambuja Cements Ltd has seen a notable rise in open interest, reaching 44,307 contracts, alongside a trading volume of 33,192 contracts, indicating increased activity in the derivatives market. The stock remains above its 5-day and 200-day moving averages, despite recent fluctuations and underperformance relative to its sector.
Ambuja Cements Ltd, a prominent player in the Cement & Cement Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 44,307 contracts, reflecting a rise of 4,363 contracts or 10.92% from the previous open interest of 39,944. This uptick in open interest coincides with a trading volume of 33,192 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Ambuja Cements opened the trading session with a gain of 2.83%, reaching an intraday high of Rs 596.3, which represents a 3.93% increase. However, the stock has underperformed its sector by 0.76% and has seen a decline after four consecutive days of gains. The stock's weighted average price suggests that more volume was traded closer to its low price for the day.
Despite the recent fluctuations, the stock remains above its 5-day and 200-day moving averages, although it is below the 20-day, 50-day, and 100-day moving averages. The liquidity of Ambuja Cements is also notable, with a delivery volume of 14.78 lakh shares on September 3, marking a 94.87% increase compared to the 5-day average delivery volume. Overall, the increase in open interest highlights a notable shift in market dynamics for Ambuja Cements.
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