Blue Star Ltd. Sees 14.81% Surge in Open Interest Amid Price Gains
Blue Star Ltd. has seen a notable rise in open interest, reaching 11,169 contracts, alongside a trading volume of 18,978 contracts, indicating increased activity in the derivatives market. The stock has outperformed its sector and is trading above multiple moving averages, although delivery volume has decreased.
Blue Star Ltd. (BLUESTARCO), a prominent player in the Electronics & Appliances sector, has experienced a significant increase in open interest today. The latest open interest stands at 11,169 contracts, marking a rise of 1,441 contracts or 14.81% from the previous open interest of 9,728. This uptick coincides with a trading volume of 18,978 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Blue Star has outperformed its sector by 0.99%, with the stock gaining 2.57% over the last two days. Today, it reached an intraday high of Rs 2,032.9, reflecting a 3.08% increase. The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong upward trend in its price trajectory.
However, it is noteworthy that delivery volume has decreased by 17.08% compared to the 5-day average, indicating a potential decline in investor participation. With a market capitalization of Rs 41,410.82 crore, Blue Star remains a liquid stock, suitable for trades of approximately Rs 0.54 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest reflects a notable shift in market dynamics for Blue Star Ltd.
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