Avenue Supermarts Sees Surge in Open Interest Amidst Trading Activity and Price Decline
Avenue Supermarts Ltd (DMART) has seen a significant rise in open interest, reaching 34,216 contracts, alongside a trading volume of 37,656 contracts. Despite recent price declines and underperformance relative to its sector, the stock remains above its longer-term moving averages, indicating ongoing market engagement.
Avenue Supermarts Ltd (DMART) has experienced a significant increase in open interest today, reflecting notable activity in the stock's trading environment. The latest open interest stands at 34,216 contracts, up from the previous figure of 29,741, marking a change of 4,475 contracts or a 15.05% increase. The trading volume for the day reached 37,656 contracts, indicating robust engagement from market participants.In terms of price performance, Avenue Supermarts has underperformed its sector by 0.28%, continuing a downward trend with a six-day consecutive decline, resulting in a total drop of 10.28% over this period. The stock hit an intraday low of Rs 4,022, reflecting a decrease of 4.24%. The weighted average price suggests that more volume was traded closer to this low price point.
Despite the recent challenges, the stock remains above its 50-day and 100-day moving averages, although it is currently below its 5-day, 20-day, and 200-day moving averages. The liquidity remains adequate for trading, with a delivery volume of 5.93 lakh shares, which has seen a slight decline of 2.53% compared to the five-day average.
In summary, the notable increase in open interest for Avenue Supermarts highlights a shift in trading dynamics, amidst ongoing price challenges and market conditions.
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