Deepak Nitrite Sees Surge in Open Interest, Indicating Shifting Market Dynamics

Mar 28 2025 03:00 PM IST
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Deepak Nitrite Ltd. has seen a notable rise in open interest, reaching 8,159 contracts, alongside a trading volume of 6,932 contracts. The stock has shown slight recovery after recent declines, with activity indicating changing investor sentiment despite a decrease in delivery volume compared to previous averages.
Deepak Nitrite Ltd. (symbol: DEEPAKNTR), a prominent player in the chemicals industry, has experienced a significant increase in open interest today. The latest open interest stands at 8,159 contracts, reflecting a rise of 1,099 contracts or 15.57% from the previous open interest of 7,060. The trading volume for the day reached 6,932 contracts, indicating robust activity in the derivatives market.

In terms of price performance, Deepak Nitrite has shown a slight recovery after three consecutive days of decline, with a minimal 1D return of 0.02%. The stock touched an intraday high of Rs 2,048, marking a 2.86% increase during the trading session. However, it underperformed its sector by 0.61%. The weighted average price suggests that more volume was traded closer to the lower price range, while the stock remains above its 20-day moving averages but below the 5-day, 50-day, 100-day, and 200-day moving averages.

Despite a decline in delivery volume by 23.97% compared to the 5-day average, the stock maintains sufficient liquidity for trades of approximately Rs 1.06 crore. Overall, the notable increase in open interest highlights a shift in market dynamics for Deepak Nitrite, reflecting changing investor sentiment.
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