Avenue Supermarts Sees 11.75% Surge in Open Interest to 63,420 Contracts

Avenue Supermarts Ltd, a prominent player in the diversified retail sector, has experienced a notable increase in open interest today. The latest open interest stands at 63,420 contracts, reflecting a rise of 6,666 contracts or 11.75% from the previous open interest of 56,754. This surge in open interest comes alongside a trading volume of 41,013 contracts, indicating heightened activity in the stock.
In terms of price performance, Avenue Supermarts has faced challenges, with the stock recording a decline of 1.84% today, in line with the sector's performance, which saw a decrease of 1.64%. The stock has been on a downward trend, losing 4% over the past two days. It reached an intraday low of Rs 3,984.6, down 2.39% from the previous close. Currently, Avenue Supermarts is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish sentiment.

Despite these challenges, the stock has shown rising investor participation, with a delivery volume of 3.21 lakh shares on November 6, marking a 59.58% increase compared to the 5-day average. The liquidity remains robust, supporting a trade size of Rs 3.21 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a significant shift in market dynamics for Avenue Supermarts, reflecting the ongoing developments in the stock's trading activity.