Surge in Open Interest for Marico Ltd. Signals Increased Market Activity Amidst Stock Decline
Marico Ltd. has experienced a notable rise in open interest, reaching 28,757 contracts, alongside a trading volume of 22,619 contracts. Despite this increase, the company's stock has underperformed its sector and faced a decline over the past two days, with reduced delivery volume indicating lower investor participation.
Marico Ltd., a prominent player in the FMCG sector, has witnessed a significant increase in open interest today, reflecting heightened trading activity. The latest open interest stands at 28,757 contracts, marking a rise of 3,375 contracts or 13.3% from the previous open interest of 25,382. The trading volume for the day reached 22,619 contracts, contributing to a total futures value of approximately Rs 78,905.91 lakhs and an options value of Rs 11,479.12 crores, culminating in a total value of Rs 79,840.02 lakhs.Despite this surge in open interest, Marico's stock performance has been underwhelming, underperforming its sector by 1.58%. The stock has experienced a consecutive decline over the past two days, with a total drop of 3.03%. Today, it touched an intraday low of Rs 696.5, reflecting a decrease of 2.56%. Notably, 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.
In terms of liquidity, Marico's delivery volume has decreased by 33.09% compared to the 5-day average, indicating a decline in investor participation. Overall, the increase in open interest amidst a challenging trading environment highlights the dynamic nature of Marico's market activity.
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