CESC Ltd Sees Significant Open Interest Surge Amidst Increased Trading Activity
CESC Ltd has seen a notable rise in open interest, reaching 11,954 contracts, alongside a trading volume of 9,139 contracts, indicating increased activity in the derivatives market. Despite underperforming its sector, the stock remains above key moving averages, with strong liquidity reflected in a significant increase in delivery volume.
CESC Ltd, a prominent player in the power industry, has experienced a significant increase in open interest (OI) today. The latest OI stands at 11,954 contracts, marking a rise of 1,228 contracts or 11.45% from the previous OI of 10,726. This uptick in OI coincides with a trading volume of 9,139 contracts, indicating heightened activity in the derivatives market.In terms of overall market performance, CESC has underperformed its sector by 1.15% today, with a 1D return of -0.41%. Despite this, the stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a strong underlying trend. Notably, the stock has seen a reversal after four consecutive days of gains.
The liquidity of CESC remains robust, with a delivery volume of 25.51 lakh shares on June 25, reflecting a remarkable increase of 336.46% compared to the 5-day average delivery volume. The total value traded today amounts to approximately Rs 25,726.07 lakhs, with the underlying value at Rs 171.
In summary, the notable rise in open interest for CESC Ltd highlights increased trading activity, even as the stock faces short-term challenges in performance relative to its sector.
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