Astral Ltd Sees 16.54% 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 38,631 contracts, reflecting a rise of 5,483 contracts or 16.54% from the previous open interest of 33,148. This uptick comes alongside a trading volume of 54,098 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Astral Ltd has underperformed its sector by 2.04%, with the stock experiencing a decline of 3.24% today. Over the past three days, the stock has faced consecutive losses, totaling a drop of 7.56%. The intraday low reached Rs 1,456.4, marking a decrease of 3.8% from the previous close. Notably, the stock's weighted average price suggests that more volume was traded closer to this low price.

Despite these challenges, Astral Ltd remains liquid enough for trades sized at Rs 2 crore, based on 2% of the five-day average traded value. The stock's moving averages indicate it is above the 50-day, 100-day, and 200-day averages, yet below the 5-day and 20-day averages. Overall, the notable increase in open interest highlights a shift in market dynamics for Astral Ltd amidst its recent price challenges.