Crompton Greaves Sees Surge in Open Interest Amidst Market Activity Shift
Crompton Greaves Consumer Electricals Ltd has seen a significant rise in open interest, reaching 38,275 contracts, alongside a trading volume of 18,514 contracts. Despite this activity, the stock has underperformed its sector and is trading below key moving averages, indicating a bearish trend.
Crompton Greaves Consumer Electricals Ltd (CROMPTON) has experienced a significant increase in open interest today, reflecting notable activity in the stock. The latest open interest stands at 38,275 contracts, up from the previous open interest of 27,728 contracts, marking a change of 10,547 contracts or a 38.04% increase. This surge in open interest coincides with a trading volume of 18,514 contracts, indicating heightened market engagement.In terms of market performance, Crompton Greaves has underperformed its sector, with a 1-day return of -0.69%, compared to a sector return of 0.43% and a Sensex return of 0.31%. The stock is currently 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 liquidity remains adequate, with a delivery volume of 4.19 lakh shares on July 28, which has decreased by 63.48% compared to the 5-day average delivery volume. The underlying value of the stock is noted at Rs 327, with a total futures value of approximately Rs 91,350.93 lakhs.
In summary, the notable increase in open interest for Crompton Greaves Consumer Electricals highlights a shift in trading dynamics, despite the stock's recent underperformance relative to its sector.
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