Crompton Greaves Sees Surge in Open Interest Amidst Declining Stock Performance
Crompton Greaves Consumer Electricals Ltd has seen a significant rise in open interest, reaching 31,523 contracts, alongside a trading volume of 10,821 contracts. Despite this activity, the stock has underperformed its sector and is trading below key moving averages, indicating a bearish trend and reduced investor participation.
Crompton Greaves Consumer Electricals Ltd (CROMPTON) has experienced a notable increase in open interest today, reflecting heightened activity in its futures market. The latest open interest stands at 31,523 contracts, up from the previous figure of 28,115, marking a change of 3,408 contracts or a 12.12% increase. The trading volume for the day reached 10,821 contracts, indicating robust participation in the market.In terms of price performance, Crompton has underperformed its sector by 1.71%, with the stock recording a decline of 2.31% over the last two days. The stock hit an intraday low of Rs 320.75, down 2.12% from the previous close. Currently, Crompton is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a bearish trend in the short to medium term.
Additionally, the stock's delivery volume has seen a significant drop of 48.32% compared to its 5-day average, indicating a decrease in investor participation. With a market capitalization of Rs 21,057 crore, Crompton remains a significant player in the Electronics & Appliances industry. Overall, the increase in open interest amidst declining stock performance highlights a complex market sentiment surrounding Crompton Greaves Consumer Electricals.
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