Godrej Consumer Products Sees 16.51% Surge in Open Interest Amid Market Activity

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 44,177 contracts, reflecting a rise of 6,261 contracts or 16.51% from the previous open interest of 37,916. This uptick in open interest comes alongside a trading volume of 27,859 contracts, indicating active participation in the derivatives market.
In terms of market performance, Godrej Consumer Products has underperformed its sector by 0.73%, with a slight decline of 0.52% over the last two days. The stock is currently trading at an underlying value of Rs 1,131, which is higher than its 5-day moving average but lower than the 20-day, 50-day, 100-day, and 200-day moving averages. Additionally, the stock has seen a notable decrease in delivery volume, with a delivery volume of 47.46k on October 21, reflecting a decline of 94.27% compared to the 5-day average.

With a market capitalization of Rs 1,16,009.60 crore, Godrej Consumer Products continues to maintain a liquid trading environment, suitable for transactions up to Rs 2.11 crore based on 2% of the 5-day average traded value. The increase in open interest signals a noteworthy shift in market dynamics for the stock, warranting attention from market participants.