Surge in Open Interest for Balkrishna Industries Signals Increased Market Activity Amidst Stock Decline
Balkrishna Industries Ltd has seen a notable rise in open interest, reaching 22,521 contracts, alongside a trading volume of 54,987 contracts. However, the stock has underperformed, opening lower and trading below key moving averages, indicating a bearish trend and reduced investor participation.
Balkrishna Industries Ltd, a prominent player in the Tyres & Rubber Products industry, has experienced a significant increase in open interest today. The latest open interest stands at 22,521 contracts, marking a substantial rise of 8,172 contracts or 56.95% from the previous open interest of 14,349. This surge coincides with a trading volume of 54,987 contracts, indicating heightened activity in the derivatives market.Despite this notable uptick in open interest, the stock has underperformed, opening with a loss of 7.53% and reaching an intraday low of Rs 2,383, reflecting a decline of 10.42%. The stock's performance today has been below the sector average, with a 1D return of -7.90%, compared to the sector's -1.73% and the Sensex's modest gain of 0.38%.
Balkrishna Industries is currently trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend. Additionally, the delivery volume has decreased by 6.45% against the 5-day average, suggesting a decline in investor participation. Overall, the increase in open interest amidst a challenging trading environment highlights the complexities of market dynamics for Balkrishna Industries.
{{stockdata.stock.price.value}} {{stockdata.stock.price_difference.value}} ({{stockdata.stock.price_percentage.value}}%)
{{stockdata.stock.date.value}} | BSE+NSE Vol: {{stockdata.index_name}} Vol: {{stockdata.stock.bse_nse_vol.value}} ({{stockdata.stock.bse_nse_vol_per.value}}%)
Related Stock Links
- {{stockdata.stock.stock_name.value}} Analysis
- {{stockdata.stock.stock_name.value}} Technicals
- {{stockdata.stock.stock_name.value}} Quality
- {{stockdata.stock.stock_name.value}} Valuation
- {{stockdata.stock.stock_name.value}} Financial Trend
- {{stockdata.stock.stock_name.value}} Return Analysis
- {{stockdata.stock.stock_name.value}} Price Analysis
- {{stockdata.stock.stock_name.value}} Quarterly Result Analysis
- {{stockdata.stock.stock_name.value}} Half-Yearly Result Analysis
- {{stockdata.stock.stock_name.value}} Nine Monthly Result Analysis
- {{stockdata.stock.stock_name.value}} Annual Results
- {{stockdata.stock.stock_name.value}} Balance Sheet
- {{stockdata.stock.stock_name.value}} Profit & Loss
- {{stockdata.stock.stock_name.value}} Cash Flow
- {{stockdata.stock.stock_name.value}} News
- {{stockdata.stock.stock_name.value}} Announcements
- {{stockdata.stock.stock_name.value}} Share Holding
- {{stockdata.stock.stock_name.value}} Peer Comparison
Our weekly and monthly stock recommendations are here
Loading...
Industry
{{sm.old_ind_name }}
Market Cap
{{sm.mcapsizerank }}
Date of Entry
{{sm.date }}
Target Price
{{sm.target_price }}
({{sm.performance_target }}%)
Holding Duration
{{sm.target_duration }}
Last 1 Year Return
{{sm.performance_1y}}%
{{sm.comp_name}} price as on {{sm.todays_date}}
₹{{sm.price_as_on}} ({{sm.performance}}%)
Industry
{{sm.old_ind_name}}
Market Cap
{{sm.mcapsizerank}}
Date of Entry
{{sm.date}}
Entry Price
{{sm.opening_price}}
Last 1 Year Return
{{sm.performance_1y}}%
Related News
Most Read
