CESC Ltd Sees Surge in Open Interest Amidst Recent Price Declines
CESC Ltd has seen a notable rise in open interest, reaching 6,959 contracts, alongside a trading volume of 6,915 contracts, indicating increased market activity. Despite this, the stock has declined over three consecutive days, with a significant drop in price, while maintaining favorable liquidity and a large market capitalization.
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 6,959 contracts, up from the previous 5,947 contracts, marking a change of 1,012 contracts or a 17.02% increase. The trading volume for the day reached 6,915 contracts, indicating robust participation in the market.Despite this surge in open interest, CESC's stock has faced challenges, having declined for three consecutive days, resulting in a total drop of 4.89% during this period. The stock touched an intraday low of Rs 164.69, representing a decrease of 2.84% from the previous close. In terms of moving averages, the stock is currently above its 100-day and 200-day averages but below its 5-day, 20-day, and 50-day averages.
Additionally, the stock's liquidity remains favorable, with a delivery volume of 28.16 lakh shares on July 31, reflecting a 130.71% increase compared to the 5-day average delivery volume. CESC Ltd's market capitalization is approximately Rs 22,236 crore, categorizing it as a large-cap stock. Overall, the notable rise in open interest amidst recent price declines highlights the dynamic nature of trading in CESC Ltd.
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