CESC Ltd Sees Significant Surge in Open Interest Amid Increased Trading Activity
CESC Ltd has seen a notable rise in open interest, reaching 8,724 contracts, alongside a trading volume of 4,778 contracts, indicating increased market activity. Despite this, the stock has underperformed its sector and remains below several key moving averages, while delivery volume has also increased significantly.
CESC Ltd, a prominent player in the power industry, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 8,724 contracts, up from the previous 7,562 contracts, marking a change of 1,162 contracts or a 15.37% increase. The trading volume for the day reached 4,778 contracts, indicating robust participation in the market.In terms of price performance, CESC Ltd has underperformed its sector by 2.78%, with the stock touching an intraday low of Rs 162.2, down 3.48% from the previous close. The weighted average price suggests that more volume was traded closer to this low price. While the stock is currently above its 50-day and 100-day moving averages, it remains below the 5-day, 20-day, and 200-day moving averages.
Additionally, the stock has seen a rise in delivery volume, with 13.55 lakh shares delivered on May 29, reflecting a 21.84% increase compared to the 5-day average. CESC Ltd maintains a market capitalization of Rs 22,164 crore, positioning it firmly within the large-cap segment. Overall, the notable spurt in open interest highlights a shift in market dynamics for CESC Ltd, warranting attention from market participants.
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