Godrej Consumer Products Sees 10.99% Surge in Open Interest Amid Trading Activity
Godrej Consumer Products Ltd has seen a significant rise in open interest, reaching 42,083 contracts, alongside a trading volume of 21,725 contracts. Despite this activity, the stock has underperformed its sector and experienced consecutive losses, indicating mixed market sentiment and declining investor participation.
Godrej Consumer Products Ltd (GODREJCP) has experienced a notable increase in open interest today, reflecting heightened activity in the stock. The latest open interest stands at 42,083 contracts, up from the previous figure of 37,916, marking a change of 4,167 contracts or a percentage increase of 10.99%. The trading volume for the day reached 21,725 contracts, contributing to a total futures value of approximately Rs 72,629.21 lakhs.Despite this surge in open interest, Godrej Consumer Products has underperformed its sector, with a decline of 0.97% compared to a sector gain of 0.50%. The stock has faced consecutive losses over the past two days, with a total return of -0.55% during this period. Currently, the stock is trading above its 5-day moving average but below its 20-day, 50-day, 100-day, and 200-day moving averages.
Investor participation appears to be waning, as evidenced by a significant drop in delivery volume, which has fallen by 94.27% against the 5-day average. The stock remains liquid enough for trades of Rs 2.11 crore, based on 2% of the 5-day average traded value. Overall, the increase in open interest amidst declining stock performance highlights a complex market sentiment surrounding Godrej Consumer Products.
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