Avenue Supermarts Sees Surge in Open Interest Amidst Stock Price Decline
Avenue Supermarts Ltd (DMART) has seen a significant rise in open interest, reaching 53,662 contracts, alongside a trading volume of 42,045 contracts. Despite this increase, the stock has faced challenges, declining 4.63% over two days, while maintaining a strong position in the large-cap segment.
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 53,662 contracts, reflecting a notable rise of 9,465 contracts or 21.42% from the previous open interest of 44,197. The trading volume for the day reached 42,045 contracts, indicating active participation in the market.Despite this surge in open interest, Avenue Supermarts has faced challenges in its stock performance, having recorded a decline of 4.63% over the past two days. The stock touched an intraday low of Rs 4,225, down 3.8% from the previous close. The weighted average price suggests that more volume was traded closer to this low price, highlighting a potential shift in trading dynamics.
In terms of moving averages, the stock remains above the 20-day, 50-day, 100-day, and 200-day moving averages, yet it is currently below the 5-day moving average. The retail sector overall has seen a decline of 3.53%, reflecting broader market trends. With a market capitalization of Rs 2,75,604.98 crore, Avenue Supermarts continues to maintain a strong position in the large-cap segment. Overall, the increase in open interest amidst recent price declines presents a complex picture of market activity for Avenue Supermarts.
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