Astral Ltd Sees Significant Surge in Open Interest Amid Increased Derivatives Activity
Astral Ltd, a key player in the Plastic Products - Industrial sector, has seen a significant rise in open interest, reaching 38,147 contracts. This increase accompanies a trading volume of 43,774 contracts and a notable surge in delivery volume, indicating heightened market activity despite recent stock price underperformance.
Astral Ltd, a prominent player in the Plastic Products - Industrial sector, has experienced a significant increase in open interest today. The latest open interest stands at 38,147 contracts, reflecting a notable rise of 6,874 contracts or 21.98% from the previous open interest of 31,273. This surge coincides with a trading volume of 43,774 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Astral Ltd has underperformed its sector by 2%, with a current stock price of Rs 1,368. The stock reached an intraday low of Rs 1,366.4, marking a decline of 3.71%. Despite this downturn, the stock has maintained a position above its 5-day, 20-day, and 50-day moving averages, although it remains below the 100-day and 200-day moving averages.
Additionally, the stock has seen a substantial increase in delivery volume, with 9.84 lakh shares delivered on May 19, representing a 258.88% rise compared to the 5-day average. With a market capitalization of Rs 36,722.37 crore, Astral Ltd continues to demonstrate liquidity suitable for trades around Rs 1.06 crore. Overall, the increase in open interest highlights a notable shift in market dynamics for Astral Ltd.
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