Surge in Open Interest Signals Increased Market Activity for Astral Ltd.
Astral Ltd has seen a notable rise in open interest, reaching 41,285 contracts, alongside a trading volume of 29,146 contracts, indicating increased market activity. Despite recent price declines, the stock remains above several moving averages and has experienced a significant boost in investor participation.
Astral Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 41,285 contracts, reflecting a rise of 3,892 contracts or 10.41% from the previous open interest of 37,393. This surge in open interest comes alongside a trading volume of 29,146 contracts, indicating heightened activity in the stock.In terms of price performance, Astral has underperformed its sector by 0.53%, with a 1-day return of -0.10%. Over the past two days, the stock has seen a consecutive decline, totaling a drop of 4.04%. Despite this, the stock's current price is above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 8.07 lakh shares on May 20, marking a substantial increase of 106.53% compared to the 5-day average delivery volume. With a market capitalization of Rs 36,636.40 crore, Astral continues to maintain a liquid trading environment, suitable for transactions around Rs 0.89 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 Astral Ltd.
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