Surge in Open Interest Signals Increased Activity for Godrej Consumer Products Stock

Godrej Consumer Products Ltd (GODREJCP), a prominent player in the FMCG sector, has experienced a notable increase in open interest today. The latest open interest stands at 29,889 contracts, reflecting a rise of 4,231 contracts or 16.49% from the previous open interest of 25,658. This surge comes alongside a trading volume of 13,033 contracts, indicating heightened activity in the derivatives market.
In terms of price performance, Godrej Consumer Products has underperformed its sector by 0.69%, with a 1D return of -1.04%. The stock has been on a downward trend, recording losses for three consecutive days, amounting to a total decline of 1.68% during this period. Notably, the stock's price is currently 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 increased investor participation, with a delivery volume of 29.05 lakh shares on June 20, marking a significant rise of 274.67% compared to the 5-day average delivery volume. With a market capitalization of Rs 1,20,505 crore, Godrej Consumer Products remains a liquid option for trading, accommodating a trade size of Rs 3.89 crore based on 2% of the 5-day average traded value. Overall, the increase in open interest highlights a shift in market dynamics for Godrej Consumer Products, reflecting current trading behaviors without indicating future trends.