Asian Paints Ltd. Sees 12.03% Surge in Open Interest to 110,127 Contracts
Asian Paints Ltd. has seen a significant rise in open interest, reaching 110,127 contracts, alongside a trading volume of 79,810 contracts. However, the stock has underperformed its sector, experiencing consecutive losses and trading below key moving averages, indicating ongoing market challenges.
Asian Paints Ltd. has experienced a notable increase in open interest today, reflecting heightened activity in its trading. The latest open interest stands at 110,127 contracts, up from the previous figure of 98,303, marking a change of 11,824 contracts or a percentage increase of 12.03%. The trading volume for the day reached 79,810 contracts, contributing to a futures value of approximately Rs 159,814.15 lakhs.Despite this surge in open interest, Asian Paints has underperformed its sector by 0.44%, with the stock recording a decline of 2.23% on the day. Over the past two days, the stock has faced consecutive losses, totaling a drop of 4.34%. The stock hit an intraday low of Rs 2,350.10, reflecting a decrease of 2.24% from the previous close.
Additionally, the stock is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Delivery volume has also decreased, with a reported 8.03 lakh shares delivered on September 25, down 14.2% compared to the 5-day average.
In summary, while Asian Paints has seen a significant rise in open interest, the stock's recent performance indicates ongoing challenges in the market.
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