Open Interest and Volume Dynamics
On 24 Feb 2026, Dabur’s open interest in derivatives rose sharply by 3,453 contracts, a 10.31% increase from the previous OI of 33,496 to 36,949. This expansion in OI is accompanied by a futures volume of 9,782 contracts, reflecting heightened trading activity. The futures value stands at ₹34,724.15 lakhs, while the options market value is substantially larger at ₹2,874.80 crores, indicating robust interest across both segments.
The total derivatives market value for Dabur aggregates to ₹35,112.06 lakhs, underscoring the stock’s liquidity and attractiveness among traders. The underlying stock price is ₹514, trading above all key moving averages (5-day, 20-day, 50-day, 100-day, and 200-day), which typically signals a bullish technical setup.
Price Performance and Market Context
Dabur has recorded a steady upward trajectory, gaining 2.82% over the past three consecutive trading sessions. The one-day return on 24 Feb was 0.21%, outperforming the FMCG sector’s 0.15% gain and contrasting with the broader Sensex’s decline of 1.14%. This relative strength highlights Dabur’s resilience amid broader market volatility.
Despite the positive price action, delivery volumes have slightly contracted by 0.49% compared to the five-day average, with 7.76 lakh shares delivered on 23 Feb. This marginal dip in investor participation could indicate that short-term traders and derivatives players are driving the recent momentum rather than long-term holders.
Market Positioning and Directional Bets
The surge in open interest alongside rising volumes suggests that market participants are taking fresh positions, possibly anticipating further upside. The increase in OI often reflects new money entering the market rather than existing positions being squared off. Given Dabur’s upgrade from Hold to Buy by MarketsMOJO on 16 Feb 2026, with a Mojo Score of 72.0, investors appear to be aligning their strategies with the positive fundamental outlook.
The stock’s market cap stands at ₹91,230 crores, categorising it as a mid-cap within the FMCG sector. Its Market Cap Grade of 2 indicates moderate size and liquidity, which is corroborated by the ability to handle trade sizes of approximately ₹1.84 crores based on 2% of the five-day average traded value. This liquidity profile supports active derivatives trading without excessive price impact.
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Implications for Investors and Traders
The rising open interest and volume in Dabur’s derivatives market suggest that traders are positioning for a continuation of the recent bullish trend. The stock’s technical strength, supported by trading above all major moving averages, aligns with the positive fundamental revision by MarketsMOJO. The Mojo Grade upgrade from Hold to Buy reflects improved earnings prospects, stable sector dynamics, and favourable valuation metrics.
Investors should note that while delivery volumes have slightly declined, the overall liquidity remains sufficient for sizeable trades, reducing execution risk. The combination of steady price gains, increased derivatives activity, and a strong fundamental outlook makes Dabur an attractive candidate for both medium-term investors and active traders seeking exposure to the resilient FMCG sector.
Sector and Benchmark Comparison
Within the FMCG sector, Dabur’s performance stands out given the sector’s modest 0.15% gain on the day compared to Dabur’s 0.21%. The broader Sensex’s 1.14% decline further accentuates Dabur’s relative strength. This outperformance is consistent with the company’s upgraded Mojo Score of 72.0, which places it favourably among its peers.
Such sector-relative strength often attracts institutional interest, which can further fuel open interest growth in derivatives as these players hedge or leverage their positions. The sustained upward momentum over three days, coupled with positive technical and fundamental signals, supports the thesis of a directional bullish bias in the near term.
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Outlook and Conclusion
Dabur India Ltd’s recent surge in open interest and volume in the derivatives market, combined with steady price appreciation and a fundamental upgrade, paints a positive picture for investors. The stock’s ability to outperform its sector and the broader market amid volatility highlights its defensive qualities and growth potential within the FMCG space.
Market participants appear to be taking directional bets favouring further gains, supported by strong technical indicators and improved investor sentiment. While delivery volumes have seen a slight dip, the overall liquidity and market interest remain robust, making Dabur a compelling option for both long-term investors and active traders.
Given these factors, the stock’s Buy rating and Mojo Score of 72.0 are well justified, signalling a favourable risk-reward profile in the current market environment.
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