Godrej Consumer Products Sees Surge in Open Interest Amid Increased Trading Activity
Godrej Consumer Products Ltd has seen a notable rise in open interest, indicating increased trading activity, with current open interest at 23,666 contracts. The stock opened higher but has faced recent challenges, underperforming its sector. It remains above key moving averages, with a market capitalization of approximately Rs 1,28,467.45 crore.
Godrej Consumer Products Ltd (GODREJCP) has experienced a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 23,666 contracts, a notable rise from the previous open interest of 17,810 contracts, marking a change of 5,856 contracts or 32.88%. The trading volume for the day reached 27,912 contracts, indicating robust participation in the market.In terms of price performance, Godrej Consumer Products opened with a gain of 2.63%, reaching an intraday high of Rs 1,309. However, the stock has faced challenges, underperforming its sector by 2.81% and recording a decline of 2.41% over the last two days. The stock touched a low of Rs 1,245 during the session, with the weighted average price reflecting more volume traded closer to this lower price point.
Despite these fluctuations, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is currently below its 5-day moving average. The market capitalization of Godrej Consumer Products is approximately Rs 1,28,467.45 crore, positioning it as a large-cap player in the FMCG industry. Overall, the increase in open interest suggests a notable shift in trading dynamics for the stock.
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