Chambal Fertilisers Sees Surge in Open Interest Amidst Challenging Market Conditions
Chambal Fertilisers & Chemicals Ltd has seen a notable rise in open interest, reaching 36,490 contracts, alongside a trading volume of 24,370 contracts. Despite this activity, the stock has underperformed its sector, experiencing a decline over the past two days and a decrease in delivery volume.
Chambal Fertilisers & Chemicals Ltd (CHAMBLFERT) has experienced a significant increase in open interest today, reflecting notable trading activity in the fertilizer sector. The latest open interest stands at 36,490 contracts, up from the previous 29,888 contracts, marking a change of 6,602 contracts or a 22.09% increase. The trading volume for the day reached 24,370 contracts, contributing to a futures value of approximately Rs 26,960.66 lakhs.Despite this surge in open interest, the stock has underperformed its sector, showing a decline of 1.66% compared to a sector return of -0.82%. Over the past two days, Chambal Fertilisers has seen a consecutive fall, with a total decline of 2.07%. The stock touched an intraday low of Rs 548.05, reflecting a decrease of 2.01% during the trading session.
Chambal Fertilisers maintains a market capitalization of Rs 22,035.88 crore, categorizing it as a large-cap stock. While the stock is trading above its 200-day moving average, it remains below its shorter-term moving averages. Additionally, delivery volume has decreased by 36.2% compared to the five-day average, indicating a decline in investor participation. Overall, the increase in open interest amidst a challenging trading environment highlights the dynamic nature of market activity surrounding Chambal Fertilisers.
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