Avenue Supermarts Sees Significant Open Interest Surge Amid Market Challenges
Avenue Supermarts Ltd (DMART) has seen a notable rise in open interest, reaching 48,403 contracts, alongside a trading volume of 94,954 contracts. Despite this increase, the stock has underperformed its sector and experienced a decline over the past two days, with significant decreases in delivery volume.
Avenue Supermarts Ltd (DMART), a prominent player in the diversified retail sector, has experienced a significant increase in open interest today. The latest open interest stands at 48,403 contracts, marking a notable rise of 11,548 contracts or 31.33% from the previous open interest of 36,855. This surge coincides with a trading volume of 94,954 contracts, reflecting active market engagement.In terms of price performance, Avenue Supermarts has underperformed its sector by 0.45%, with the stock experiencing a decline of 3.33% over the last two days. Today, the stock reached an intraday low of Rs 3,928.90, representing a decrease of 5.99%. The weighted average price indicates that more volume was traded closer to this low price, suggesting a shift in trading dynamics.
Despite the recent downturn, the stock remains above its 100-day moving averages, although it is currently below the 5-day, 20-day, 50-day, and 200-day moving averages. Additionally, delivery volume has decreased significantly, falling by 46.92% compared to the 5-day average. Overall, Avenue Supermarts continues to navigate a challenging market environment, with liquidity sufficient for trades around Rs 3.19 crore.
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