CESC Ltd Sees Significant Open Interest Surge Amid Active Market Engagement
CESC Ltd has seen a notable rise in open interest, reaching 12,963 contracts, alongside a trading volume of 9,712 contracts. The stock has outperformed its sector and is trading above several moving averages, despite a decline in delivery volume and reduced investor participation.
CESC Ltd, a prominent player in the power generation and distribution sector, has experienced a significant increase in open interest today. The latest open interest stands at 12,963 contracts, reflecting a rise of 1,224 contracts or 10.43% from the previous open interest of 11,739. This uptick comes alongside a trading volume of 9,712 contracts, indicating active market engagement.In terms of price performance, CESC Ltd has outperformed its sector by 0.92%, reversing a two-day decline. The stock reached an intraday high of Rs 158.5, marking a gain of 2.95% for the day. Notably, the stock is currently trading above its 20-day, 50-day, and 100-day moving averages, although it remains below its 5-day and 200-day moving averages.
Despite this positive price movement, there has been a decline in investor participation, with delivery volume dropping by 34.92% compared to the five-day average. The liquidity remains adequate, supporting trade sizes of up to Rs 1.04 crore based on 2% of the five-day average traded value. Overall, the notable increase in open interest highlights a shift in market dynamics for CESC Ltd, reflecting changing investor sentiment.
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