Surge in Open Interest Signals Increased Market Activity for Godrej Consumer Products
Godrej Consumer Products Ltd has seen a notable rise in open interest, reaching 28,804 contracts, alongside a trading volume of 10,649 contracts, indicating increased activity in the derivatives market. Despite recent price declines, the stock maintains a significant market capitalization of Rs 1,20,367.12 crore in the FMCG sector.
Godrej Consumer Products Ltd (GODREJCP), a prominent player in the FMCG sector, has experienced a significant increase in open interest today. The latest open interest stands at 28,804 contracts, reflecting a rise of 3,146 contracts or 12.26% from the previous open interest of 25,658. This uptick in open interest comes alongside a trading volume of 10,649 contracts, indicating heightened activity in the derivatives market.In terms of price performance, Godrej Consumer Products has underperformed its sector by 0.65%, with a 1D return of -1.08%. The stock has been on a downward trend, recording losses for three consecutive days, amounting to a total decline of 1.81% during this period. Notably, the stock's current price is above its 100-day moving average but below its 5-day, 20-day, 50-day, and 200-day moving averages.
Additionally, the stock has shown rising investor participation, with a delivery volume of 29.05 lakh shares on June 20, marking a substantial increase of 274.67% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,20,367.12 crore, Godrej Consumer Products remains a significant entity in the FMCG landscape. Overall, the increase in open interest highlights a notable shift in market dynamics for the stock.
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