Surge in Open Interest Signals Increased Trading Activity for Godrej Consumer Products
Godrej Consumer Products Ltd has seen a notable rise in open interest, reaching 22,728 contracts, alongside a trading volume of 32,275 contracts. The stock has outperformed its sector, reversing a decline with a gain at market open, while delivery volume has surged significantly, indicating increased liquidity.
Godrej Consumer Products Ltd (GODREJCP), a prominent player in the FMCG sector, has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 22,728 contracts, up from the previous 18,952, marking a change of 3,776 contracts or a 19.92% increase. This surge coincides with a trading volume of 32,275 contracts, indicating robust market engagement.In terms of price performance, Godrej Consumer Products has outperformed its sector by 2.37%, reversing a four-day decline with a gain of 2.07% at the market open. The stock reached an intraday high of Rs 1,301.3, reflecting a 5.68% increase during the trading session. The weighted average price suggests that more volume was traded closer to the lower price range, while the stock remains above its 50-day, 100-day, and 200-day moving averages, albeit below the 5-day and 20-day averages.
Additionally, the stock's delivery volume has seen a notable rise of 180.2% compared to the five-day average, indicating increased liquidity, with a market cap of Rs 1,29,410.51 crore. Overall, the notable spurt in open interest and the stock's recent performance highlight a dynamic trading environment for Godrej Consumer Products.
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