Astral Ltd Sees 12.9% Surge in Open Interest Amid Price Decline
Astral Ltd has seen a notable rise in open interest, reaching 37,423 contracts, alongside a trading volume of 32,812 contracts. Despite this increase, the stock has underperformed, experiencing consecutive losses over three days and a decline in delivery volume, reflecting a challenging trading environment.
Astral Ltd, a mid-cap player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 37,423 contracts, reflecting a rise of 4,275 contracts or 12.9% from the previous open interest of 33,148. This uptick comes alongside a trading volume of 32,812 contracts, indicating active market participation.Despite this surge in open interest, Astral's stock has underperformed its sector, declining by 2.38% today. Over the past three days, the stock has faced consecutive losses, totaling a drop of 7.8%. The stock reached an intraday low of Rs 1,460.2, marking a decrease of 3.55% from the previous close. The weighted average price suggests that more volume was traded closer to this low price point.
In terms of moving averages, Astral's stock is currently above the 50-day, 100-day, and 200-day moving averages, yet below the 5-day and 20-day averages. Additionally, delivery volume has decreased by 19.12% compared to the 5-day average, indicating a decline in investor participation. Overall, the notable increase in open interest amidst a challenging trading environment highlights the dynamic nature of Astral's market activity.
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