Astral Ltd Sees Significant Surge in Open Interest Amid Increased Trading Activity
Astral Ltd has seen a notable rise in open interest, reaching 36,208 contracts, alongside a trading volume of 30,615 contracts, indicating increased market activity. Despite recent price declines, the stock maintains a significant market capitalization and has experienced a substantial increase in delivery volume compared to previous averages.
Astral Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest (OI) today. The latest OI stands at 36,208 contracts, reflecting a rise of 4,935 contracts or 15.78% from the previous OI of 31,273. This uptick in OI coincides with a trading volume of 30,615 contracts, indicating heightened activity in the stock.In terms of price performance, Astral Ltd has underperformed its sector by 2.58%, with the stock falling after three consecutive days of gains. It reached an intraday low of Rs 1,373.7, marking a decline of 3.2%. The weighted average price suggests that more volume was traded closer to this low price point. While the stock is currently above its 5-day, 20-day, and 50-day moving averages, it remains below the 100-day and 200-day moving averages.
Additionally, the stock has seen a notable increase in delivery volume, which rose by 258.88% compared to the 5-day average. With a market capitalization of Rs 36,982.94 crore, Astral Ltd continues to maintain a liquid trading environment, suitable for transactions of Rs 1.06 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a notable shift in market dynamics for Astral Ltd.
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