Astral Ltd Sees 15.47% Surge in Open Interest Amid Price Decline

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 38,277 contracts, reflecting a rise of 5,129 contracts or 15.47% from the previous open interest of 33,148. This uptick comes alongside a trading volume of 50,778 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Astral has underperformed its sector by 2.2%, with the stock declining for three consecutive days, resulting in a total drop of 7.55% during this period. The stock reached an intraday low of Rs 1,456.4, marking a decrease of 3.8%. The weighted average price suggests that more volume was traded closer to this low price point.

Despite the recent downturn, Astral's stock remains above its 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day and 20-day moving averages. Notably, delivery volume has decreased by 19.12% compared to the 5-day average, indicating a decline in investor participation. Overall, the increase in open interest amidst these price movements highlights a notable shift in market dynamics for Astral Ltd.