Astral Ltd Sees Significant Surge in Open Interest Amid Market Activity Shift

Astral Ltd, a mid-cap player in the Plastic Products - Industrial sector, has experienced a notable increase in open interest today. The latest open interest stands at 34,383 contracts, reflecting a rise of 4,310 contracts or 14.33% from the previous open interest of 30,073. This surge comes alongside a trading volume of 17,787, indicating heightened activity in the derivatives market.
In terms of price performance, Astral has underperformed its sector by 1.14%, with the stock recording a decline of 2.11% on the day. Over the past three days, the stock has faced consecutive losses, totaling a drop of 4.53%. The intraday low reached Rs 1,360.5, marking a decrease of 2.13% from the previous close. Furthermore, Astral is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend.

Investor participation appears to be waning, with delivery volume falling by 9.06% compared to the 5-day average. Despite these challenges, the stock remains liquid enough for trades sized at Rs 3.46 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Astral Ltd.