CESC Ltd Sees Significant Surge in Open Interest Amid Increased Trading Activity

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.