Surge in Open Interest for Macrotech Developers Signals Active Trading Dynamics
Macrotech Developers Ltd has seen a notable increase in open interest, reaching 23,848 contracts, alongside a trading volume of 30,881 contracts. Despite a recent price gain, the stock has underperformed its sector and experienced a significant decline in delivery volume compared to the previous average.
Macrotech Developers Ltd (symbol: LODHA), a prominent player in the construction and real estate sector, has experienced a significant increase in open interest today. The latest open interest stands at 23,848 contracts, reflecting a rise of 3,808 contracts or 19.0% from the previous open interest of 20,040. The trading volume for the day reached 30,881 contracts, contributing to a futures value of approximately Rs 69,993.41 lakhs and an options value of Rs 11,446.26 lakhs, bringing the total value to Rs 71,758.89 lakhs. The underlying value of the stock is noted at Rs 1,323.In terms of price performance, Macrotech Developers has underperformed its sector by 0.5%, despite gaining 6.74% over the last two days. The stock reached an intraday high of Rs 1,339.90, marking a 3.6% increase. It is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. However, there has been a notable decline in delivery volume, which has decreased by 63.24% compared to the 5-day average.
In summary, the notable rise in open interest for Macrotech Developers highlights active trading dynamics, while the stock's recent performance reflects mixed results within the broader market context.
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