Ambuja Cements Sees 13.02% Surge in Open Interest, Reaching 72,323 Contracts

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 72,323 contracts, reflecting a rise of 8,331 contracts or 13.02% from the previous open interest of 63,992. This uptick in open interest coincides with a trading volume of 33,314 contracts, indicating heightened activity in the stock.
In terms of market performance, Ambuja Cements has underperformed its sector by 0.43% today, with a 1D return of 0.87%. The stock has shown signs of a trend reversal, gaining after two consecutive days of decline. Notably, the stock's price is currently above the 200-day moving averages but below the 5-day, 20-day, 50-day, and 100-day moving averages, suggesting mixed signals in its short-term performance.

Additionally, the stock has seen a remarkable increase in delivery volume, with 43.45 lakh shares delivered on October 24, marking a 452.43% rise compared to the 5-day average delivery volume. With a market capitalization of Rs 1,38,385.04 crore, Ambuja Cements remains a liquid stock, suitable for trades up to Rs 2.25 crore based on 2% of the 5-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for Ambuja Cements.