Godrej Consumer Products Sees Significant 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 23,834 contracts, reflecting a notable rise of 6,024 contracts or 33.82% from the previous open interest of 17,810. The trading volume for the day reached 31,313 contracts, indicating robust activity in the market.
In terms of price performance, Godrej Consumer Products has underperformed its sector by 2.87%, with a 1D return of -1.94%. The stock opened with a gain of 2.63%, reaching an intraday high of Rs 1,309, before dipping to a low of Rs 1,245, which represents a decline of 2.39%. The weighted average price suggests that more volume was traded closer to the lower end of the price range.

Despite the recent consecutive falls, with a total decline of 2.59% over the last two days, the stock remains above its 20-day, 50-day, 100-day, and 200-day moving averages, although it is below the 5-day moving average. The market capitalization of Godrej Consumer Products is approximately Rs 1,27,966.14 crore, affirming its status as a large-cap entity in the FMCG industry. Overall, the increase in open interest highlights a shift in market dynamics for the stock, warranting attention from market participants.